Related Commentary  Related HMRC Manuals

73(1)  This section applies where arrangements are entered into between the person and a financial institution under which–

(a)the institution–

(i)purchases a major interest in land (“the first transaction”), and

(ii)sells that interest to the person (“the second transaction”), and

(b)the person grants the institution a legal mortgage over that interest.

73(2)  The first transaction is exempt from charge if the vendor is–

(a)the person concerned, or

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