This document outlines regulations related to stamp duty land tax avoidance schemes in the UK. It prescribes certain arrangements related to non-residential property valued at £5 million or more that must be disclosed to tax authorities. The regulations define relevant terms, prescribe the arrangements, and outline an excluded arrangements schedule listing specific steps that do not require disclosure if used alone but would if combined in certain ways. It was made by the Treasury and came into force on August 1, 2005.
Mozambique mining law no 20 2014, dated 18 August 2014Vinod Sao
The Mining Law 20/2014 of 18 Aug 2014, (an unofficial English version) promulgated on 22 Aug 2014 replacing Mining Law 14/2002 in Mozambique. However, Art 83 saves provisions of this law in relation to mining contracts that were in force prior to 22 August 2014.
For investment in Mozambican project is now subject to Provisions laid under Chapter VII- Article 62 which requires prior approval of the Govt.
Art 62.1 The transfer of rights and obligations conferred under mining holding permits and/or mining rights to an affiliate or a third party must be made in accordance with Mozambican law and is subject to approval by the Government.
Art 62.2. This provision also applies to other direct and indirect transfers of participation interests, permits and/or mining rights, including the transfer of shares or other forms of participation.
Other Key changes brought in the New Mining Law are-
• new mining contracts must provide for State participation in the mining operations (no minimum of maximum percentage participation is specified),
• introduction of local content requirements; non-nationals must "associate" themselves with a Mozambican national in order to provide goods and services to mining operators,
• introduction of domestic supply obligations that give the Government the right to buy minerals at market price for use in the local industry - if Mozambique's commercial interests so require,
• all transfers of mining rights, whether direct or indirect, are subject to approval by the Ministry of Mineral Resources (MIREM),
• introduction of signing bonuses for mining concessions awarded through public tender;
• details of new mining contracts must be published in Mozambique's Official Gazette,
• discontinuation of the tax stabilization provision which featured in the previous mining law. The New Mining Law explicitly excludes matters relating to tax from mining contracts.
• reduction of the maximum period for exploration licences from 10 to 8 years, and
• mining concession holders to start production within 48 months of the issuance of a mining concession. Under the previous law, production had to be started within 36 month of the issuance of a DUAT (right to use and enjoy land) and an environmental permit.
മിച്ചഭൂമി സീലിംഗ് പരിധിയും നടപടിക്രമങ്ങളും Sruitiny of draft delaration-Solve your land problems in Kerala - bhoomi thram mattam - resurvey - PATTYAM - klc- land assignment bhoomi tharam mattom , ditial survey, ponnum vila, land valuation, fair vsalue , pokkuvaravu and document issues - tile verification
JAMES JOSEPH ADHIKARATHIL, land consulatant - FORMER DEPUTY COLLECTOR ALAPPUZHA
9447464502
Amendments to the Income Tax Rules 1984
Amendments
Amendments to the Income Tax Rules 1984
Amendments to the Income Tax Rules 1984
Amendments to the Income Tax Rules 1984
Amendments to the Income Tax Rules 1984 Bangladesh
Mozambique mining law no 20 2014, dated 18 August 2014Vinod Sao
The Mining Law 20/2014 of 18 Aug 2014, (an unofficial English version) promulgated on 22 Aug 2014 replacing Mining Law 14/2002 in Mozambique. However, Art 83 saves provisions of this law in relation to mining contracts that were in force prior to 22 August 2014.
For investment in Mozambican project is now subject to Provisions laid under Chapter VII- Article 62 which requires prior approval of the Govt.
Art 62.1 The transfer of rights and obligations conferred under mining holding permits and/or mining rights to an affiliate or a third party must be made in accordance with Mozambican law and is subject to approval by the Government.
Art 62.2. This provision also applies to other direct and indirect transfers of participation interests, permits and/or mining rights, including the transfer of shares or other forms of participation.
Other Key changes brought in the New Mining Law are-
• new mining contracts must provide for State participation in the mining operations (no minimum of maximum percentage participation is specified),
• introduction of local content requirements; non-nationals must "associate" themselves with a Mozambican national in order to provide goods and services to mining operators,
• introduction of domestic supply obligations that give the Government the right to buy minerals at market price for use in the local industry - if Mozambique's commercial interests so require,
• all transfers of mining rights, whether direct or indirect, are subject to approval by the Ministry of Mineral Resources (MIREM),
• introduction of signing bonuses for mining concessions awarded through public tender;
• details of new mining contracts must be published in Mozambique's Official Gazette,
• discontinuation of the tax stabilization provision which featured in the previous mining law. The New Mining Law explicitly excludes matters relating to tax from mining contracts.
• reduction of the maximum period for exploration licences from 10 to 8 years, and
• mining concession holders to start production within 48 months of the issuance of a mining concession. Under the previous law, production had to be started within 36 month of the issuance of a DUAT (right to use and enjoy land) and an environmental permit.
മിച്ചഭൂമി സീലിംഗ് പരിധിയും നടപടിക്രമങ്ങളും Sruitiny of draft delaration-Solve your land problems in Kerala - bhoomi thram mattam - resurvey - PATTYAM - klc- land assignment bhoomi tharam mattom , ditial survey, ponnum vila, land valuation, fair vsalue , pokkuvaravu and document issues - tile verification
JAMES JOSEPH ADHIKARATHIL, land consulatant - FORMER DEPUTY COLLECTOR ALAPPUZHA
9447464502
Amendments to the Income Tax Rules 1984
Amendments
Amendments to the Income Tax Rules 1984
Amendments to the Income Tax Rules 1984
Amendments to the Income Tax Rules 1984
Amendments to the Income Tax Rules 1984 Bangladesh
Mauritius cut its 2009 economic growth forecast to 2.5 percent, bringing it more in line with predictions by the International Monetary Fund and the Indian Ocean island's central bank. To support its economy the Government has proposed an ADDITIONAL STIMULUS PACKAGE Bill after the one adopted in December 2008.
On 26 Jan 2020, I have a talk over Zoom on "IP after Brexit". My slides are already on Slideshare. These are supplemented by this handout which covers:
- Art 50 of the Treaty of European Union
- The European Union (Withdrawal) Act 2019
- The statutory instruments made in anticipation of our exiting with a withdrawal agreement
- The withdrawal agreement
- The European Union (Withdrawal Agreement) Act 2020
- The Trade and Cooperation Agreement
- The European Union (Future Relationship) Act 2020.
These notes track every legislative change to the requirement in the withdrawal agreement. I also discuss changes to the law not effected by the withdrawal agreement and consider future development of our IP law.
Pre-Salt Layer - The new Oil regulation in BrazilClaudio A. Pinho
Lecture at American University (Washington Colege of Law) about the new oil regulation in Brazil about the pre-salt layer. Oct 12th 2010.
Palestra sobre a nova regulação do pré-sal ministrada na American University no dia 12.Out.2010.
At 23:00 on 31 Dec 2020 EU law ceased to apply to the UK including the Regulations establishing the EU Trade Mark, the Community Design and many other rights. A priority in the negotiations for the UK's withdrawal from the EU was the continued protection of the brands, designs and other intellectual assets that been protected by such rights. The withdrawal agreement entered in Jan 2020 provided for EU trade marks, Community designs, Community plant vaieties, database rights and supplementary protection certificates. This presentation considers the relevant provisions of the withdrawal agreementn and the statutes and secondary legislation which implemnted it. Such legislation is now bearing a great part of the UK's IP infrastructure.
New regulations proposed by three Ohio Democrat members of the State House of Representatives to, in essence, ban most new injection wells in the state.
Development control rules,
Maharashtra Regional Town Planning Act,
Land acquisition act,
Village planning: Necessity and principles,
Rural developments- Growth
centre approach, Area Development approach, Integrated rural development
approach.
Mauritius cut its 2009 economic growth forecast to 2.5 percent, bringing it more in line with predictions by the International Monetary Fund and the Indian Ocean island's central bank. To support its economy the Government has proposed an ADDITIONAL STIMULUS PACKAGE Bill after the one adopted in December 2008.
On 26 Jan 2020, I have a talk over Zoom on "IP after Brexit". My slides are already on Slideshare. These are supplemented by this handout which covers:
- Art 50 of the Treaty of European Union
- The European Union (Withdrawal) Act 2019
- The statutory instruments made in anticipation of our exiting with a withdrawal agreement
- The withdrawal agreement
- The European Union (Withdrawal Agreement) Act 2020
- The Trade and Cooperation Agreement
- The European Union (Future Relationship) Act 2020.
These notes track every legislative change to the requirement in the withdrawal agreement. I also discuss changes to the law not effected by the withdrawal agreement and consider future development of our IP law.
Pre-Salt Layer - The new Oil regulation in BrazilClaudio A. Pinho
Lecture at American University (Washington Colege of Law) about the new oil regulation in Brazil about the pre-salt layer. Oct 12th 2010.
Palestra sobre a nova regulação do pré-sal ministrada na American University no dia 12.Out.2010.
At 23:00 on 31 Dec 2020 EU law ceased to apply to the UK including the Regulations establishing the EU Trade Mark, the Community Design and many other rights. A priority in the negotiations for the UK's withdrawal from the EU was the continued protection of the brands, designs and other intellectual assets that been protected by such rights. The withdrawal agreement entered in Jan 2020 provided for EU trade marks, Community designs, Community plant vaieties, database rights and supplementary protection certificates. This presentation considers the relevant provisions of the withdrawal agreementn and the statutes and secondary legislation which implemnted it. Such legislation is now bearing a great part of the UK's IP infrastructure.
New regulations proposed by three Ohio Democrat members of the State House of Representatives to, in essence, ban most new injection wells in the state.
Development control rules,
Maharashtra Regional Town Planning Act,
Land acquisition act,
Village planning: Necessity and principles,
Rural developments- Growth
centre approach, Area Development approach, Integrated rural development
approach.
To consolidate the law relating to the taxation of incomes and donations, to provide for the recovery of taxes on persons, to provide for the deduction by employers of amounts from the remuneration of employees in respect of certain tax liabilities of employees, and to provide for the making of provisional tax payments and for the payment into the National Revenue Fund of portions of the normal tax and interest and other charges in respect of such taxes, and to provide for related matters.
The UK Government’s “Infrastructure Bill” – amended draft published on 14 October 2014. Key highlights: CO2-reduction, extraction-tax, piercing commercial veils in upstream petroleum, levies on CO2 storage/gas storage or unloading/exploiting UK petroleum, and deep petroleum/geothermal energy prospecting.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...
Stamp Duty Land Tax
1. STATUTORY INSTRUMENTS
2005 No. 1868
STAMP DUTY LAND TAX
The Stamp Duty Land Tax Avoidance Schemes (Prescribed
Descriptions of Arrangements) Regulations 2005
Made - - - - 11th July 2005
Laid before the House of Commons 11th July 2005
Coming into force - - 1st August 2005
The Treasury, in exercise of the powers conferred upon them by sections 306(1)(a) and (b) and
318 of the Finance Act 2004(a) make the following Regulations:
Citation, commencement and interpretation
1.—(1) These Regulations may be cited as the Stamp Duty Land Tax Avoidance Schemes
(Prescribed Descriptions of Arrangements) Regulations 2005 and shall come into force on 1st
August 2005.
(2) In these Regulations—
“chargeable interests” has the meaning given by section 48 of the Finance Act 2003(b);
“residential” and “non-residential property” have the meanings given in section 116 of the
Finance Act 2003; and
a reference (without more) to a numbered section is a reference to the section of the Finance
Act 2004 which is so numbered.
(3) For the purposes of these Regulations, section 839 of the Income and Corporation Taxes Act
1988(c) applies to determine whether persons are connected.
Prescribed description of arrangements in relation to stamp duty land tax
2.—(1) For the purposes of Part 7 (disclosure of tax avoidance schemes) the arrangements
specified in paragraph (3) are prescribed in relation to stamp duty land tax.
(2) In this regulation—
“the applicable value” means the aggregate market value of all of the chargeable interests in
non-residential property subject to the arrangements;
“the Commissioners” means the Commissioners for Her Majesty’s Revenue and Customs (see
section 1 of the Commissioners for Revenue and Customs Act 2005); and
(a) 2004 c. 12. Section 318 is cited because of the meaning it ascribes to “prescribed”.
(b) 2003 c. 14. Section 48(7) was inserted by section 297(3) and paragraph 4(2) of Part 1 of Schedule 39 to the Finance Act
2004.
(c) 1988 c. 1. Section 839 was amended by paragraph 20 of Schedule 17 to the Finance Act 1995 (c. 4).
2. “market value” shall be construed in accordance with section 118 of the Finance Act 2003,
and for the purposes of ascertaining that value, all chargeable interests held by the same
person or connected persons shall be taken into account.
(3) The arrangements are those—
(a) whose subject matter does not consist wholly of residential property;
(b) in respect of which the applicable value is at least £5,000,000 at the time any requirement
to notify would (but for this sub-paragraph) arise under section 308, 309 or 310 (as the
case may be), and
(c) are not excluded by virtue of the provisions of the Schedule to these Regulations.
(4) If a promoter does not know whether proposals will result in arrangements, the subject
matter of which will consist at least in part of non-residential property, it shall be assumed, for the
purposes of these Regulations, that the subject matter of any resulting arrangements will so
consist.
(5) If a promoter makes a notifiable proposal available generally, it shall be assumed that the
applicable value is £5,000,000 or more.
(6) In any case where—
(a) a promoter makes available a proposal for arrangements in circumstances where he
knows the identity of at least one of the persons who it is proposed should be a party to
the arrangements;
(b) a promoter becomes aware of a transaction entered into in pursuance of arrangements of
the kind described in sub-paragraph (a); or
(c) a person becomes a party to any transaction forming part of notifiable arrangements; and
liable to comply with—
(i) section 309 (duty of person dealing with promoter outside the United Kingdom); or
(ii) section 310 (duty of parties to notifiable arrangements not involving promoter);
if the person under a duty to provide the Commissioners with prescribed information does not
know the applicable value, it shall be assumed to be at least £5,000,000.
Tom Watson
Vernon Coaker
11th July 2005 Two of the Lords Commissioners of Her Majesty’s Treasury
SCHEDULE Regulation 2(3)(c)
Excluded Arrangements
Arrangements are excluded from being prescribed arrangements for the purposes of these
Regulations if they —
(a) comprise one or more of steps A to F listed below (subject to Rules 1 and 2 which specify
arrangements involving combinations of those steps which are not excluded
arrangements); but
(b) do not include any step, which is necessary for the purpose of securing a tax advantage,
other than one listed below.
Rule 1
Arrangements involving Steps B, D, E and F are excluded arrangements unless rule 2 applies.
Rule 2
Arrangements are not excluded arrangements if they—
2
3. (a) include all, or at least two of, steps A, C and D; or
(b) involve more than one instance of step A, C or D.
The steps are as follows.
Step A: Acquisition of a chargeable interest by special purpose vehicle
The acquisition of a chargeable interest in land by a company created for that purpose (“a special
purpose vehicle”).
Step B: Claims to relief
Making—
(a) a single claim to relief under any of the following provisions of the Finance Act 2003—
(i) section 57A (a),(sale and leaseback arrangements);
(ii) section 60 (compulsory purchase facilitating development);
(iii) section 61 (compliance with planning obligation);
(iv) section 64 (demutualisation of building society);
(v) section 64A (b) (initial transfer of assets to trustees of unit trust scheme);
(vi) section 65 (incorporation of limited liability partnership);
(vii) section 66 (transfers involving public bodies);
(viii) section 67 (transfer in consequence of reorganisation of parliamentary
constituencies);
(ix) section 69 (acquisition by bodies established for national purposes);
(x) section 71 (certain acquisitions by registered social landlords);
(xi) section 74 (collective enfranchisement by leaseholders);
(xii) section 75 (crofting community right to buy);
(xiii) Schedule 6 (disadvantaged areas relief);
(xiv) Schedule 6A (c)(relief for certain acquisitions of residential property);
(xv) Schedule 7 (group relief and reconstruction acquisition reliefs);
(xvi) Schedule 8 (charities relief); or
(xvii) Schedule 9 (right to buy, shared ownership leases etc.);
(b) one or more claims to relief under any one of the following provisions of the Finance Act
2003—
(i) section 71A (d) (alternative property finance: land sold to financial institution and
leased to individual);
(ii) section 72 (e) (alternative property finance in Scotland: land sold to financial
institution and leased to individual);
(iii) section 72A(f) (alternative property finance in Scotland: land sold to financial
institution and individual in common); or
(iv) section 73 (alternative property finance: land sold to financial institution and resold
to individual)(g).
(a) Section 57A was inserted by paragraph 16 of Part 2 of Schedule 39 to the Finance Act 2004.
(b) Section 64A was inserted by paragraph 18 of Part 2 of Schedule 39 to the Finance Act 2004.
(c) Schedule 6A was inserted by paragraph 17(2) of Part 2 of Schedule 39 to the Finance Act 2004.
(d) Section 71A was inserted by paragraph 2 of Schedule 8 to the Finance Act 2005 (c. 7).
(e) Section 72 was amended by paragraph 3(1) and (6) of Schedule 8 to the Finance Act 2005.
(f) Section 72A was inserted by paragraph 4 of Schedule 8 to the Finance Act 2005.
(g) Section 73 was amended by paragraph 5(2) of of Schedule 8 to the Finance Act 2005.
3
4. Step C: Sale of shares in special purpose vehicle
The sale of shares in a special purpose vehicle, which holds a chargeable interest in land, to a
person with whom neither the special purpose vehicle, nor the vendor, is connected.
Step D: Not exercising election to waive exemption from VAT
No election is made to waive exemption from value added tax contained in paragraph 2 of
Schedule 10 to the Value Added Tax Act 1994(a) (treatment of buildings and land for value added
tax purposes).
Step E: Transfer of a business as a going concern
Arranging the transfer of a business, connected with the land which is the subject of the
arrangements, in such a way that it is treated for the purposes of value added tax as the transfer of
a going concern.
Step F: Undertaking a joint venture
The creation of a partnership (within the meaning of paragraph 1 of Schedule 15 to the Finance
Act 2003) to which the property subject to a land transaction is to be transferred.
EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations prescribe arrangements which enable or might be expected to enable any
person to obtain a tax advantage in relation to stamp duty land tax, and which a promoter is
required to notify to the Inland Revenue.
Regulation 1 provides for the citation, commencement and interpretation of these Regulations.
Regulation 2 prescribes arrangements in relation to stamp duty land tax which must be notified
to HM Revenue & Customs under Part 7 of the Finance Act 2004 (c. 12). The duty to notify does
not arise in the cases specified in the Schedule to the Regulations, which details certain steps
which, alone or (subject to Rules to 1 to 4 of that Schedule) in combination do not constitute
prescribed arrangements for the purposes of the Regulations.
These Regulations impose new costs on business. A regulatory impact assessment is available
on HM Revenue & Customs website (www.hmrc.gov.gsi.uk).
(a) 1994 c. 16. Paragraph 2 has been amended by sections 36 and 37 of, and Part IV(2) of Schedule 18 to, the Finance Act 1997
(c. 16), article 2(a) of S.I. 1994/3013, article 3 of S.I. 1995/279, article 2(a) of S.I. 1997/51, articles 2 and 4 of S.I. 1999/593
and articles 2 and 4 of S.I. 2004/778.
ISBN 0-11-073077-1
£3.00
Crown copyright 2005
Printed and published in the UK by The Stationery Office Limited
under the authority and superintendence of Carol Tullo, Controller of Her Majesty’s
Stationery Office and Queen’s Printer of Acts of Parliament.
E1057 7/2005 151057T 19585
9 780110 730776