Part 4 of FA 2003 (stamp duty land tax) is amended as follows.
Section 71 (certain acquisitions by registered social landlord) is amended as follows.
Insert at the beginning—
In subsection (4), for "subsection (1)(c)" substitute ." this section "
Schedule 9 (right to buy etc) is amended as follows.
In paragraph 5 (shared ownership leases: "qualifying body" etc)—
in sub-paragraph (2), insert at the end—ga registered provider of social housing that is not within paragraph (b) (subject to sub-paragraph (2A))., and
after that sub-paragraph insert—2AA registered provider of social housing within sub-paragraph (2)(g) ("R") is only a qualifying body in relation to a lease of premises if the following has been funded with the assistance of a grant or other financial assistance under section 19 of the Housing and Regeneration Act 2008—athe purchase or construction of the premises by R (or a person connected with R), orbthe adaptation of the premises by R (or a person connected with R) for use as a dwelling.2BSection 839 of the Taxes Act 1988 (connected persons) has effect for the purposes of sub-paragraph (2A).
In paragraph 7 (shared ownership trusts: introduction)—
in sub-paragraph (3), omit "(within the meaning of paragraph 5(2))", and
insert at the end—7In Condition 2 "qualifying body" means—aa qualifying body within the meaning of paragraph 5(2)(a) to (f), orba registered provider of social housing within paragraph 5(2)(g) (subject to sub-paragraph (8)).8A registered provider of social housing within paragraph 5(2)(g) ("R") is only a qualifying body in relation to a shared ownership trust if the following has been or is being funded with the assistance of a grant or other financial assistance under section 19 of the Housing and Regeneration Act 2008—athe purchase or construction of the trust property by R (or a person connected with R), orbthe adaptation of the trust property by R (or a person connected with R) for use as a dwelling.9Section 839 of the Taxes Act 1988 (connected persons) has effect for the purposes of sub-paragraph (8).
The amendments made by this section have effect in relation to transactions with an effective date on or after the day on which this Act is passed.