SDLTM49700 - Commencement and transitional provisions

Miscellaneous transitional provisions

• FA03/SCH19/PARA6(1) provides that contracts subject to stamp duty under FA99/SCH13/PARA7 (equitable interests, &c) are deemed to have been duly stamped if they are completed by a stamp duty land tax transaction.
• FA03/SCH19/PARA6(2) and FA03/SCH19/PARA6(3) deal with transitional provisions for group relief and acquisitions relief. See SDLTM23000+.
• FA03/SCH19/PARA7 makes provision for transactions which are not themselves stamp duty land tax transactions but are linked to stamp duty land tax transactions.
• FA03/SCH19/PARA9 makes provision for options and rights of pre-emption acquired before implementation date and exercised on or after implementation date.
  • Such an acquisition, and any variation of the option or right, is treated as linked with the land transaction resulting from the exercise of the option or right.
  • Where the option or right was acquired on or after 17 April 2003 any consideration for the acquisition is treated as part of the chargeable consideration for the transaction arising from the exercise of the option or right.
  • Where the option or right was varied on or after 17 April 2003 but before implementation date any consideration for the variation is treated as part of the chargeable consideration for the transaction arising from the exercise of the option or right.