[F1SCHEDULE 2ASADDITIONAL AMOUNT: TRANSACTIONS RELATING TO SECOND HOMES ETC.

PART 2STRANSACTIONS TO WHICH THIS SCHEDULE APPLIES

Transactions where buyer is a non-individual etc.S

3(1)This schedule applies to a chargeable transaction if the following conditions are satisfied—S

(a)the subject-matter of the transaction consists of or includes the acquisition of ownership of a dwelling,

(b)the relevant consideration for the transaction is £40,000 or more, and

(c)the buyer—

(i)is not an individual, or

(ii)is an individual and sub-paragraph (2) or (5) applies.

(2)This sub-paragraph applies if the acquisition is made in the course of a business of the individual the sole or main activity of which is investing or dealing in chargeable interests.

(3)Sub-paragraph (2) of paragraph 31 of schedule 17 applies for the purposes of sub-paragraph (2) of this paragraph as it applies for the purposes of paragraph 31(1) of that schedule.

(4)In sub-paragraph (2), the reference to a business of the individual includes a reference to a business of a partnership of which the individual is a partner.

(5)This sub-paragraph applies if the individual is making the acquisition as trustee under a settlement and, in relation to any dwelling that is or forms part of the subject-matter of the transaction, there is no interested beneficiary.

(6)For the purposes of sub-paragraph (5), a beneficiary under the settlement is an interested beneficiary in relation to a dwelling if the beneficiary has or will have a relevant interest in the dwelling.]