These reliefs relate to:

the acquisition of a dwelling (‘the old dwelling’)

from an individual (alone or with other individuals)

by a house-building company or property trader

so that the individual (alone or with other individuals) can acquire a replacement home (a ‘new dwelling’ or ‘second dwelling’) from the house-building company or property trader.

In essence, the relief is for ‘part-exchange’ in the residential-property market.

Three types of relief

The reliefs consist of:

Relief for the acquisition by a house-building company from an individual acquiring a new dwelling (Sch. 4, Pt. 2)

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