| Commentary

279 Basic charge

| Commentary

(b) Stamp duty land tax

279 Basic charge

Acquisitions of any land or buildings which form part of an undertaking transferred in the context of a company reorganisation will be subject to the stamp duty land tax regime and not the stamp duty regime. As the acquisition of such an asset involves the acquisition of a ‘chargeable interest’, it will constitute a land transaction and be chargeable to stamp duty land tax at the normal rates unless a relief applies1. In the context of company reconstructions, the Finance Act 2003 provides a similar, though not identical, relief

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