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SDLTM09930 | SDLT - increased rates for non-resident transactions: Non-resident in relation to a chargeable transaction: Companies, second condition, excluded companies - para 11 Sch 9A FA03

From HM Revenue & Customs · Stamp Duty Land Tax Manual

The second residence condition in paragraph 7(3) Sch 9A FA03 does not apply to the following types of companies:

  • a Property Authorised Investment Fund (PAIF), i.e. a body corporate that is a property Authorised Investment Fund for the purposes of Sch 7A FA03 by virtue of paragraph 2(2) of that Schedule;

  • a body corporate that is a 51% subsidiary of a PAIF, where “51% subsidiary” has the same meaning as in Chapter 3 of Part 24 of CTA 2010;

  • a company UK Real Estate Investment Trust (REIT), within the meaning of section 524(5) CTA 2010; and

  • a company that is a member of a group UK REIT, within the meaning of section 523(5) CTA 2010.