SCHEDULE 5Multiple dwellings relief
PART 5Withdrawal of relief
Partial withdrawal of relief
I118
Relief under this schedule is partially withdrawn in relation to a relevant transaction if—
a
an event occurs in the relevant period, and
b
had the event occurred immediately before the F1effective date of the transaction—
i
the transaction would have been a relevant transaction, but
ii
more tax would have been payable in respect of the transaction.
I219
Where relief is partially withdrawn, tax is chargeable on the transaction as if the event had occurred immediately before the effective date of the transaction.
I320
In that case, the tax so chargeable must be calculated by reference to the tax rates and tax bands in force at the effective date of the transaction.