Scope: when is Stamp Duty Land Tax (SDLT) chargeable: higher rate charge for acquisitions of residential property by certain non-natural persons FA03/S55/SCH4A:
Withdrawal of relief - financial institutions acquiring dwellings in the course of lending FA03/SCH4A/PARA5I
Withdrawal of relief will occur where one of the following conditions is not met within the three year control period
- the purchaser continues to be a financial institution that is carrying on a business that involves the lending of money, and
- the interest is held by the purchaser for the purposes of resale in the course of that business.