»Ê¹ÚÌåÓýapp

Land sold to a financial institution and leased to a person: England & Northern Ireland: »Ê¹ÚÌåÓýapp first transaction FA03/S71A(2)

Relief from stamp duty land tax on the first transaction, purchase of a major interestby the financial institution or undivided share in land, may be claimed by the financialinstitution if the vendor is

• the person who enters into the arrangements - the first case
• another financial institution by whom the interest was acquired under arrangements of the kind mentioned at SDLTM28110, entered into between it and the person - the second case

Thus, in the first case, the person may

• obtain finance against a property owned by them
• set up a new arrangement with their existing financial institution

In the second case the person may change financial institutions.

»Ê¹ÚÌåÓýapp second case also allows financial institutions to transfer title between themselves where the person is not involved.