43. Stamp duty land tax (increased rates for non-resident transactions)

– in the House of Commons at 6:51 pm on 9th March 2021.

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Resolved,

That—

(1) In the Finance Act 2003, Part 4 (stamp duty land tax) is amended in accordance with paragraphs (2) to (5).

(2) After section 75 insert—

“Increased rates for non-resident transactions

75ZA Increased rates for non-resident transactions

(1) In its application for the purpose of determining the amount of tax chargeable in respect of a chargeable transaction that is a non-resident transaction, this Part has effect as if 2% were added to each rate specified in the rate-specifying provisions.

(2) The “rate-specifying provisions” are—

(a) in section 55(1B), Table A;

(b) in Schedule 4ZA, in paragraph 1(2), Table A;

(c) in Schedule 4A, paragraph 3(1)(a);

(d) in Schedule 5, in paragraph 2(3), Table A;

(e) in Schedule 6ZA, in paragraph 4, Table A;

(f) in section 74(1A), Step 4.

(3) Schedule 9A defines “non-resident transaction” and makes further provision in connection with this section.

Anti-avoidance”.

(3) In section 101 (unit trust schemes), in subsection (7), at the end insert “, or

Schedule 9A (increased rates for non-resident transactions).”

(4) In section 122 (index of defined expressions), in the table, at the appropriate place insert—

“non-resident transactionSchedule 9A, paragraph 2”

(5) After Schedule 9 insert—