Overview of the Structure of the Act
16.The Act has two sections and one Schedule.
17.Section 1 amends section 55 Finance Act 2003, which provides rules for calculating the amount of SDLT chargeable, and introduces the Schedule.
18.Section 2 provides for citation, commencement and adds transitional rules which allow purchasers in certain circumstances to elect whether the new or the old rules in section 55 Finance Act 2003 will apply.
19.The Schedule makes consequential provisions.