SCHEDULE 16 SDLT: Increased Rates for Non-Resident Transactions
Finance Act 2021 (2021 c 26) | Legislation

SCHEDULE 16 SDLT: Increased Rates for Non-Resident Transactions

Section 88

Amendments of FA 2003

1

In FA 2003, Part 4 (stamp duty land tax) is amended as follows.

2

After section 75 insert—

“Increased rates for non-resident transactions
75ZA Increased rates for non-resident transactions

(1)     In its application for the purpose of determining the amount of tax chargeable in respect of a chargeable transaction that is a non-resident transaction, this Part has effect as if 2% were added to each rate specified in the rate-specifying provisions.

(2)     The “rate-specifying provisions†are—

(a)     in section 55(1B), Table A;

(b)     in Schedule 4ZA, in paragraph 1(2), Table A;

(c)     in Schedule 4A, paragraph 3(1)(a);

(d)     in Schedule 5, in paragraph 2(3), Table A;

(e)     in Schedule 6ZA, in paragraph 4, Table A;

(f)     in section 74(1A), Step 4.

(3)     Schedule 9A defines “non-resident transaction†and makes further provision in connection with this section.

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3

In section 101 (unit trust schemes), in subsection (7), at the end insert “, or

Schedule 9A (increased rates for non-resident transactions).â€

4

In section 122 (index of defined expressions), in the table, at the appropriate place insert—

“non-resident transaction Schedule 9A, paragraph 2â€

5

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