SCHEDULES
SCHEDULE 2Transfer schemes
Stamp duty
I15
1
Stamp duty is not to be chargeable—
a
on a transfer scheme; or
b
on an instrument or agreement certified by the Secretary of State to the Commissioners of Inland Revenue as made for the purposes of a transfer scheme, or as made for purposes connected with such a scheme.
2
But a transfer scheme, or an instrument or agreement so certified, is to be treated as duly stamped only if—
a
in accordance with section 12 of the Stamp Act 1891 (c. 39) it has been stamped with a stamp denoting either that it is not chargeable to duty or that it has been duly stamped; or
b
it is stamped with the duty to which it would be chargeable apart from this paragraph.
5AF1Stamp duty land tax
1
For the purposes of stamp duty land tax, a land transaction effected by, or for the purposes of, or for purposes connected with, a transfer scheme is exempt from charge.
2
Relief under this paragraph must be claimed in a land transaction return or an amendment of such a return.
3
In this paragraph—
“land transaction” has the meaning given by section 43(1) of the Finance Act 2003;
“land transaction return” has the meaning given by section 76(1) of that Act.