With one exception1, the stamp duty land tax provisions2 apply in relation to a unit trust scheme3 as if:
(1) the trustees were a company4; and
(2) the rights of the unit holders5 were shares in the company6.
Each of the parts of an umbrella scheme7 is treated for these purposes as a separate unit trust scheme and the scheme as a whole is not so regarded8.
Similar treatment applies in relation to a co-ownership authorised contractual schemes
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