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Home Forums Patrick Cannon Does Market Value Rule in Para 5 of Sch 4 FA 2003 override overages? Reply To: Does Market Value Rule in Para 5 of Sch 4 FA 2003 override overages?

#890
John Shallcross
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I expect the legislation you have found is FA03/Sch4ZA/para3(4) setting out Condition C for the 3% surcharge to apply. This requires that for the surcharge to apply the buyer must have a major interest in another dwelling.

There are some things to check: if any of the joint buyers is a company for example the surcharge will apply whether or not other properties are owned.