Stamp Duties Consolidation Act 1999 section 92C

Residential property investor relief

Section 92C provided a temporary stamp duty relief for investors in residential property, scaling down the 9% investor rate that had applied from 2000 until the rate was abolished by the Finance Act 2002.

• Reduced the stamp duty otherwise chargeable on residential property investor transactions to a fraction of the normal amount, scaled by reference to the consideration band.
• Applied only where the instrument contained a certifying statement that section 29 or 53 applied, or that the instrument gave effect to the purchase of a newly erected dwellinghouse or apartment.
• Operated by reducing the charge to 3/9, 4/9, 5/9, 6/9 or 7½/9 of the otherwise applicable conveyance or lease duty, with the result rounded up to the nearest pound.
• Was a short-lived provision: it applied to instruments executed between 27 February 2001 and 5 December 2001, and was deleted by Finance Act 2002 section 113(1)(c) for instruments executed on or after 6 December 2001.