Reliefs
- What reliefs are there?
- Which transactions qualify for special rules?
- How do I work out Disadvantaged Areas Relief where a property is partly residential and partly commercial?
Q. What reliefs are there?
The main ones are:
- Disadvantaged areas relief
- Relief for houses taken in part exchange by builders, and for employee relocations
- Compulsory purchase relief
- Relief for companies with planning obligations
- Special reliefs (e.g. group relief) for companies
- Charities relief
- Exemptions for certain leases by RSL's
- Acquisitions by a charity
- Transfers between group companies
- Transfers arising from company reconstructions
- Certain purchases by Registered Social Landlords
- Certain leases granted by Registered Social Landlords
- Acquisitions of land in disadvantaged areas
- Acquisitions of dwellings by house buying companies in exchange for the sale of a new home
- Acquisitions of dwellings by relocation companies
- Acquisitions by local authorities and other public bodies under compulsory purchase order and under the terms of a planning agreement
Q. Which transactions qualify for special rules?
- Transfers between companies and connected parties
- New rules for collective enfranchisement by leaseholders and crofting community right to buy schemes
- New rules for alternative property financing arrangements for individuals
- Acquisitions of dwellings under shared ownership schemes
- Right to buy and rent to mortgage transactions
Q How do I work out Disadvantaged Areas Relief where a property is partly residential and partly commercial?
Please see paragraph 19 of SP1/2004.
