Section 129 | SDLT higher rate: land purchased for commercial use

(1)Schedule 4A to FA 2003 (SDLT: higher rate for certain transactions) is amended in accordance with subsections (2) to (4).

(2)In paragraph 5—

(a)in sub-paragraph (1)—

(i)after paragraph (a) insert—

(aa)use as business premises for the purposes of a qualifying property rental business (other than one which gives rise to income consisting wholly or mainly of excluded rents);

(ab)use for the purposes of a relievable trade;

;

(ii)for paragraph (b) substitute—

(b)development or redevelopment and—

(i)resale in the course of a property development trade, or

(ii)exploitation falling within paragraph (a) or use falling within paragraph (aa) or (ab);

;

(b)in sub-paragraph (2), for “the dwelling” substitute “ a dwelling on the land ”;

(c)in sub-paragraph (3), at the appropriate place insert—

(3)In paragraph 5G, in sub-paragraph (3)(c) for “the dwelling” substitute “ any dwelling on the land ”.

(4)In paragraph 6D(3)(b), for “the dwelling” substitute “ any dwelling on the land concerned ”.

(5)The amendments made by this section have effect in relation to any land transaction of which the effective date is on or after 1 April 2016.