Finance Act 2016 inserts new FA 2003, s. 65A (PAIF seeding relief and CoACS seeding relief) and new FA 2003, Sch. 7A, Part 2 (Co-ownership Authorised Contractual Schemes) which provide for relief from SDLT.

The relief applies to transactions with an effective date on or after 15 September 2016 (the date of Royal Assent to Finance Act 2016), subject to transitional provisions in Sch. 7A, para. 15.

Relief under FA 2003, Sch. 7A must be claimed in a land transaction return, or an amendment thereto, and must be accompanied by a notice to HMRC referring to the claim.

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