If, within three years of the relevant transaction, that is, the transaction for which charities relief was claimed, or in carrying out, or in connection with, an arrangement entered into within that period
and the beneficiaries or unit holders hold
then the relief granted, or an appropriate proportion in the
case of a derived interest, is withdrawn and stamp duty land tax is
A new land transaction return and payment of the tax should be made. See SDLTM50400.
The amount chargeable is the stamp duty land tax which would have been chargeable in respect of the relevant land transaction if charities relief had not applied or, an appropriate proportion of that stamp duty land tax if a derived interest is held.
An appropriate proportion is calculated having regard to what was acquired in the relevant transaction and what is being used for non-charitable purposes.