Nature of the relief

The relief is partial in the sense that it reduces the amount of LBTT that would have been payable without the relief, but it does not fully exempt the transaction from charge as most other reliefs do.

It applies only to residential property in a ‘relevant transaction’.

The ‘relevant transaction’ may be a single transaction relating to multiple dwellings, or linked transactions relating to multiple dwellings. It does not include a transaction to which Sch. 19 (leases) applies, for which see ¶208-000ff.

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