[Part 3 Supplementary Provisions]
Finance Act 2003 (2003 c 14) | Legislation

[Part 3 Supplementary Provisions]

[Further provision in connection with paragraph 3(6) and (7)

8

(1)     This paragraph applies where by reason of paragraph 3(7) a chargeable transaction (“the transaction concernedâ€) [is not] a higher rates transaction for the purposes of paragraph 1.

(2)     The land transaction (“the subsequent transactionâ€) by reference to which the condition in paragraph 3(7)(b) [is] met may not be taken into account for the purposes of paragraph 3(6)(b) in determining whether any other chargeable transaction is a higher rates transaction.

(3)     A land transaction return in respect of the transaction concerned may be amended, to take account of [the application of paragraph 3(7)] [by virtue of paragraph 3(7A)(a)], at any time within [the period of 12 months beginning with—

(a)     the effective date of the subsequent transaction, or

(b)     if later, the filing date for the return].

(4)     Where a land transaction return in respect of the transaction concerned is amended to take account of [the application of paragraph 3(7)] [by virtue of paragraph 3(7A)(a)] (and not for any other reason), paragraph 6(2A) of Schedule 10 (notice of amendment of return to be accompanied by the contract for the transaction etc) does not apply

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