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Legislation
Finance Act 2003

Crossheading Reliefs

  • Section 57 Disadvantaged areas relief
  • Section 57A Sale and leaseback arrangements
  • Section 57AA First-time buyers
  • Section 57B First-time buyers
  • Section 58A Relief for certain acquisitions of residential property
  • Section 58B Relief for new zero-carbon homes
  • Section 58C Relief for new zero-carbon homes: supplemental
  • Section 58D Transfers involving multiple dwellings
  • Section 60 Compulsory purchase facilitating development
  • Section 61 Compliance with planning obligations
  • Section 61A Relief for special tax sites
  • Section 62 Group relief and reconstruction or acquisition relief
  • Section 63 Demutualisation of insurance company
  • Section 64 Demutualisation of building society
  • Section 64A Initial transfer of assets to trustees of unit trust scheme
  • Section 65 Incorporation of limited liability partnership
  • Section 65A Seeding relief
  • Section 66 Transfers involving public bodies
  • Section 66A Resolution of financial institutions
  • Section 67 Transfer in consequence of reorganisation of parliamentary constituencies
  • Section 67A Acquisitions by certain health service bodies
  • Section 68 Charities relief
  • Section 69 Acquisition by bodies established for national purposes
  • Section 70 Right to buy transactions, shared ownership leases etc
  • Section 71 Certain acquisitions by registered providers of social housing etc
  • Section 71A Alternative property finance: land sold to financial institution and leased to person
  • Section 72 Alternative property finance in Scotland: land sold to financial institution and leased to person
  • Section 72A Alternative property finance in Scotland: land sold to financial institution and person in common
  • Section 73 Alternative property finance: land sold to financial institution and re-sold to person
  • Section 73A Sections 71A to 73: relationship with Schedule 7
  • Section 73AB Section 71A : arrangements to transfer control of financial institution
  • Section 73B Exempt interests
  • Section 73BA Meaning of “financial institution”
  • Section 73C Alternative finance investment bonds
  • Section 73CA Sections 71A to 73: first-time buyers
  • Section 74 Exercise of collective rights by tenants of flats
  • Section 75 Crofting community right to buy
  1. Reliefs
  2. Compulsory purchase facilitating development

Section 60 | Compulsory purchase facilitating development

From legislation.gov.uk

(1)A compulsory purchase facilitating development is exempt from charge.

(2)In this section “compulsory purchase facilitating development” means—

(a)in relation to England ... ..., the acquisition by a person of a chargeable interest in respect of which that person has made a compulsory purchase order for the purpose of facilitating development by another person;F1F2

(b)in relation to Northern Ireland, the acquisition by a person of a chargeable interest by means of a vesting order made for the purpose of facilitating development by a person other than the person who acquires the interest.

(3)For the purposes of subsection (2)(a) it does not matter how the acquisition is effected (so that provision applies where the acquisition is effected by agreement).

(4)In subsection (2)(b) a “vesting order” means an order made under any statutory provision to authorise the acquisition of land otherwise than by agreement.

(5)In this section “development”—

(a)in relation to England ..., has the same meaning as in the Town and Country Planning Act 1990 (c. 8) (see section 55 of that Act);F3

(b)RepealedF4

(c)in relation to Northern Ireland, has the same meaning as in the Planning Act (Northern Ireland) 2011 (see section 23 of that Act).F5

Notes

  1. F1

    Words in s. 60(2)(a) omitted (1.4.2018 with effect in accordance with s. 16(4)(5) of the amending Act) by virtue of Wales Act 2014 (c. 29), s. 29(2)(b)(3), Sch. 2 para. 5; S.I. 2018/214, art. 2(a)

  2. F2

    Words in s. 60(2)(a) omitted (with effect in accordance with s. 29(4) of the amending Act) by virtue of Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 7(a) (with s. 29(5)(6)); S.I. 2015/637, art. 2

  3. F3

    Words in s. 60(5)(a) omitted (1.4.2018 with effect in accordance with s. 16(4)(5) of the amending Act) by virtue of Wales Act 2014 (c. 29), s. 29(2)(b)(3), Sch. 2 para. 5; S.I. 2018/214, art. 2(a)

  4. F4

    S. 60(5)(b) omitted (with effect in accordance with s. 29(4) of the amending Act) by virtue of Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 7(b) (with s. 29(5)(6)); S.I. 2015/637, art. 2

  5. F5

    S. 60(5)(c) substituted (13.2.2015 for specified purposes, 1.4.2015 in so far as not already in force) by Planning Act (Northern Ireland) 2011 (c. 25), s. 254(1)(2), Sch. 6 para. 98 (with s. 211); S.R. 2015/49, arts. 2, 3, Sch. 1 (with Sch. 2)

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