SCHEDULES

SCHEDULE 6Stamp duty land tax: disadvantaged areas relief

Part 1Disadvantaged areas

1Meaning of “disadvantaged area”

1

For the purposes of this Schedule a “disadvantaged area” means an area designated as a disadvantaged area by regulations made by the Treasury.

2

The regulations may—

a

designate specified areas as disadvantaged areas, or

b

provide for areas of a description specified in the regulations to be designated as disadvantaged areas.

3

If the regulations so provide, the designation of an area as a disadvantaged area shall have effect for such period as may be specified by or determined in accordance with the regulations.

4

The regulations may—

a

make different provision for different cases, and

b

contain such incidental, supplementary, consequential or transitional provision as appears to the Treasury to be necessary or expedient.

2Continuation of regulations made for purposes of stamp duty

Any regulations made by the Treasury—

a

designating areas as disadvantaged areas for the purposes of section 92 of the Finance Act 2001 (c. 9) (stamp duty exemption for land in disadvantaged areas), and

b

in force immediately before the implementation date,

have effect for the purposes of this Schedule as if made under paragraph 1 above and may be varied or revoked accordingly.