SCHEDULE 8 Stamp Duty Land Tax: Charities Relief
Finance Act 2003 (2003 c 14) | Legislation

SCHEDULE 8 Stamp Duty Land Tax: Charities Relief

Section 68

Charities relief

1

(1)     A land transaction is exempt from charge if the purchaser is a charity and the following conditions are met.

Relief under [this Schedule] is referred to in this Part as “charities reliefâ€.

(2)     The first condition is that the purchaser must intend to hold the subject-matter of the transaction for qualifying charitable purposes, . . ..

(3)     The second condition is that the transaction must not have [been] entered into for the purpose of avoiding tax under this Part (whether by the purchaser or any other person).

[(3A)     For the purposes of this Schedule, a charity (“Câ€) holds a chargeable interest for qualifying charitable purposes if it holds it—

(a)     for use in furtherance of the charitable purposes of C or another charity, or

(b)     as an investment from which the profits are applied to the charitable purposes of C.]

(4)     . . .

Withdrawal of charities relief

2

(1)     Where in the case of a transaction (“the relevant transactionâ€) that is exempt by virtue of [this Schedule]—

(a)     a disqualifying event occurs—

(i)     before the end of the period of three years beginning with the

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