SDLTM20205 - Freeports and Investment Zones relief: general
Relief from SDLT is available for certain acquisitions of land and buildings in designated freeport and investment zone tax sites (known as 바카라 사이트śspecial tax sites바카라 사이트ť) under Schedule 6C of the Finance Act 2003.
All statutory references in this Freeports and Investment Zones guidance are to Schedule 6C unless indicated otherwise. References to land in this guidance include buildings where appropriate.
Relief will be available for purchases made from the date a special tax site designation takes effect until 30 September 2031 for Freeport tax sites and until 30 September 2034 for Investment Zone tax sites. More information about particular tax sites바카라 사이트™ designations will be published on 바카라 사이트Â here.
Relief may be claimed for land situated in a special tax site provided that it is intended to be used only in a qualifying manner at acquisition and is actually used only in a qualifying manner throughout a control period.
Consideration paid for chattels, etc, won바카라 사이트™t qualify for relief as it isn바카라 사이트™t subject to SDLT in the first place.
Once relief is claimed, it won바카라 사이트™t matter how land that didn바카라 사이트™t qualify for relief is used 바카라 사이트“ it could be used for residential development, for example, alongside land used as an office block that did qualify for relief.
Relief is available for a purchase of land of any kind 바카라 사이트“ residential, non-residential or mixed. What matters is the intended and actual use of the land in question, not its nature at purchase.
Joint purchasers qualify for relief in the same way as sole purchasers. Land in a special tax site will meet the conditions for relief to the extent that all the purchasers바카라 사이트™ intentions meet the conditions for relief. There is no requirement for all joint purchasers to meet the conditions for relief or to have the same qualifying use in mind.
Relief is withdrawn if qualifying land ceases to be used in a qualifying manner by any of the purchasers during a control period.
Special provisions for alternative finance arrangements ensure that eligibility for relief is determined by reference to the 바카라 사이트śrelevant person바카라 사이트ť (the person other than the financial institution who entered into the alternative finance arrangement) rather than the financial institution. Similarly, liability for tax when relief is withdrawn lies with the 바카라 사이트śrelevant person바카라 사이트ť.
Relief must be claimed in a return (section 61A(4) Finance Act 2003).
Claims for relief must be submitted on or before 14 October 2032 for Freeport tax sites and 14 October 2035 for Investment Zone tax sites to be valid (section 61A(5) Finance Act 2003).