SDLTM29935 - Relief for transfers involving multiple dwellings: The tax calculation FA03/SCH6B/PARA4

The amount of tax payable is reached by calculating the sum of the tax payable on the:

• consideration attributable to interests in dwellings and
• the remaining consideration (if any).

The consideration must be apportioned on a ‘just and reasonable’ basis.

The percentage rates of tax which apply, firstly to the consideration attributable to interests in dwellings and secondly to the remaining consideration, are calculated separately and then aggregated.

For this purpose the chargeable consideration can include the market value of the subject-matter of the transaction where this is substituted by FA03/S53 or FA03/SCH4/PARA5, or an election is made under FA03/SCH15/PARA12A.

Where the chargeable consideration for a relevant transaction includes rent, the normal provisions of FA03/SCH5 apply to determine the amount of tax chargeable on the rent.