To ensure that land transactions that form part of a Private Finance Initiative (PFI) project have the same treatment for SDLT purposes as they did for stamp duty, the following provisions apply.

Where there are arrangements under which:

there is a transfer, or the grant or assignment of a lease of land by a qualifying body (A) to a non-qualifying body (B) (‘the main transfer’);

in consideration in whole or in part of the main transfer there is a grant by B to A of a lease or underlease of the whole or substantially the whole of that land (‘the lease-back’) and

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