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HMRC internal manual

Stamp Duty Land Tax Manual

Reliefs: Demutualisation of building society

General overview FA03/S64

This section provides relief from Stamp Duty Land Tax where a land transaction takes place in connection with the transfer of the business of a building society to a company under section 97(6) or (7) of the Building Societies Act 1986 (transfer of building society’s business to a commercial company).

This section is based on section 102 of the Building Societies Act 1986 (which relates to stamp duty) and extends that relief to Stamp Duty Land Tax.