Introductory
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This Part sets out when a chargeable transaction where the buyer is not an individual is a “higher rates residential property transaction” for the purpose of regulations under section 24(1)(b).
Transaction involving a dwelling
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(1) A chargeable transaction is a higher rates residential property transaction if—
(a) the buyer is not an individual,
(b) the main subject-matter of the transaction consists of a major interest in a dwelling (“the purchased dwelling”), and
(c) the chargeable consideration for the dwelling is £40,000 or more.
(2)
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