Commencement – in the House of Commons at 6:47 pm on 6 November 2024.
Votes in this debate
Question put,
That—
(1) Section 1 of the Stamp Duty Land Tax (Temporary Relief) Act 2023 (which provides for reduced rates of stamp duty land tax for transactions before
(2) In subsection (3) (which deals with purchases of additional dwellings), for the Table A mentioned there substitute—
| Part of relevant consideration | Percentage |
| So much as does not exceed £250,000 | 5% |
| So much as exceeds £250,000 but does not exceed £925,000 | 10% |
| So much as exceeds £925,000 but does not exceed £1,500,000 | 15% |
| The remainder (if any) | 17%”. |
(3) The amendment made by this Resolution has effect in relation to land transactions the effective date of which falls on or after
(4) But the amendment made by this Resolution does not have effect in relation to a land transaction which—
(a) is effected in pursuance of a contract entered into before
(b) is not excluded.
(5) For this purpose a land transaction is excluded if—
(a) there is any variation of the contract, or assignment of rights under the contract, on or after
(b) the transaction is effected in consequence of the exercise on or after that date of any option, right of pre-emption or similar right, or
(c) on or after that date, there is an assignment, subsale or other transaction relating to the whole or part of the subject-matter of the contract as a result of which a person other than the purchaser under the contract becomes entitled to call for a conveyance.
(6) In consequence of the provision made by the preceding paragraphs, the Stamp Duty Land Tax (Temporary Relief) Act 2020 is amended as follows.
(7) In section 1 (reduced rates of SDLT in relation to land transactions the effective date of which falls in the period beginning with
(a) in subsection (6) (which provides an exception from section 44(8) of the Finance Act 2003 where the contract is completed after
(b) after subsection (6) insert—
“(6A) For this purpose, the sole reason is either—
(a) that the modifications made by this section have no effect in relation to that conveyance, or
(b) that both paragraph (a) applies and the increased rates provided for by Resolution 35 of the House of Commons (stamp duty land tax (additional dwellings: purchases before
(8) In section 1A (reduced rates of SDLT in relation to land transactions the effective date of which falls in the period beginning with
(a) in subsection (5) (which provides an exception from section 44(8) of the Finance Act 2003 where the contract is completed after
(b) after subsection (5) insert—
“(5A) For this purpose, the sole reason is either—
(a) that the modifications made by this section have no effect in relation to that conveyance, or
(b) that both paragraph (a) applies and the increased rates provided for by Resolution 35 of the House of Commons (stamp duty land tax (additional dwellings: purchases before
(9) In a case where—
(a) as a result of section 44(4) of the Finance Act 2003 the effective date of a land transaction is before
(b) the contract concerned is completed by a conveyance on or after that date, section 44(8) of that Act is not to apply in relation to that conveyance if the sole reason that (but for this paragraph) it would have applied is that the increased rates provided for by this Resolution would have had effect in relation to that conveyance.
(10) Section 44(10) of the Finance Act 2003 applies for the purposes of paragraph (9).
And it is declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.
Division number 35
Budget Resolution No. 35: Stamp duty land tax (additional dwellings: purchases before 1 April 2025)
The House of Commons is one of the houses of parliament. Here, elected MPs (elected by the "commons", i.e. the people) debate. In modern times, nearly all power resides in this house. In the commons are 650 MPs, as well as a speaker and three deputy speakers.
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In the end only a handful of amendments will be incorporated into any bill.
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A person involved in the counting of votes. Derived from the word 'tallier', meaning one who kept a tally.
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