General overview FA03/S71

A land transaction under which the purchaser is a profit-making registered provider of social housing is exempt from charge if the transaction is funded with the assistance of a public subsidy.

Exemption is alsoavailable for a land transaction where the purchaser is a relevant housing provider, and one of the following conditions are met

(i) the relevant housing provider is controlled by its tenants.

This means that the majority of the board members are tenants occupying properties owned or managed by the relevant housing provider. For this Section a ‘board member’ is regarded to be

if it is a company, a director of the company

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