Related Commentary  Related CasesRelated HMRC Manuals

55(1)  The amount of tax chargeable in respect of a chargeable transaction to which this section applies is determined in accordance with subsections (1B) and (1C).

55(1A)  This section applies to any chargeable transaction other than a transaction to which paragraph 3 of Schedule 4A or step 4 of section 74(1A) (higher rate for certain transactions) applies.

55(1B)  If the transaction is not one of a number of linked transactions, the amount of tax chargeable is determined as follows–

Step 1

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