Introduction Stamp duty land tax: second transaction
39.Paragraph 8 provides relief from SDLT on the transfer of the land asset from Q back to P.
40.Paragraph 8(1) provides that the transfer of the land back to P is exempt if conditions A to G have been met and all the provisions of Part 4 of FA 2003 relating to the first transaction have been complied with.
41.Paragraph 8(2) provides that the relief is subject to conditions relating to asset substitution in paragraph 18.
42.Paragraph 8(3) provides that relief is not available in respect of the second transaction if paragraph 20 applies because a bond-holder or group of connected bond-holders acquires control of the underlying asset.
43.Paragraph 9 provides that if following the transfer of the land asset back from Q to P, Q provides prescribed evidence that conditions A to C and E to G have been met then the land ceases to be subject to a charge.