Resolved,
That—
(1) Section 58D of, and Schedule 6B to, the Finance Act 2003 (relief for transfers involving multiple dwellings) are repealed.
(2) In consequence of the repeal of those provisions —
(a) in Part 4 of the Finance Act 2003—
(i) in section 87(3) (interest on unpaid tax: meaning of “relevant date”), omit paragraph (aza),
(ii) in Schedule 4A (higher rates for certain transactions), in paragraph 2(6), omit paragraph (d) and, in paragraph 7, for sub-paragraph (6) substitute—
“(6) In sub-paragraph (5) —
“contract” includes any agreement;
“relevant deeming provision” means any of sections 44 to 45A, paragraph 5(1) or (2) of Schedule 2A or paragraph 12A or 19(3) of Schedule 17A.”,
(iii) in Schedule 5 (amount of tax chargeable: rent), in paragraph 9, in sub-paragraph (4), omit “or 6B” and, in sub-paragraph (5), omit “or Schedule 6B”,
(iv) in Schedule 10 (returns, enquiries, assessments and appeals), in paragraph 12(2A)(a), for “, 81 A” substitute “or 81 A” and omit “or paragraph 6 of Schedule 6B (adjustment for change of circumstances)”, and
(v) in Schedule 15 (partnerships), in paragraphs 11 (2C) and 19(2C), in the substituted paragraph, omit “or 6B”,
(b) in Schedule 36 to the Finance Act 2008 (information and inspection powers), in paragraph 21A(7), omit paragraph (b) and the “or” before it, and
(c) in the Finance Act 2011, omit section 83 and Schedule 22 (transfers involving multiple dwellings).
(3) The amendments made by this Resolution have effect in relation to land transactions the effective date of which falls on or after 1 June 2024.
(4) But those amendments do not have effect in relation to a land transaction if—
(a) the transaction is effected in pursuance of a contract entered into and substantially performed before 1 June 2024, or
(b) the transaction is effected in pursuance of a contract entered into on or before 6 March 2024 and is not excluded.
(5) For this purpose a land transaction is excluded if—
(a) there is any variation of the contract, or assignment of rights under the contract, after 6 March 2024,
(b) the transaction is effected in consequence of the exercise after that date of any option, right of pre-emption or similar right, or
(c) after that date, there is an assignment, subsale or other transaction relating to the whole or part of the subject-matter of the contract as a result of which a person other than the purchaser under the contract becomes entitled to call for a conveyance.
(6) If—
(a) pre-commencement land transactions are linked to post-commencement land transactions, and
(b) all of the transactions would (but for this Resolution) be relevant transactions for the purposes of Schedule 6B to the Finance Act 2003,
a claim under that Schedule is available only in relation to the pre-commencement land transactions.
(7) If a claim under that Schedule is made in relation to those transactions, none of the post-commencement land transactions are to be regarded any longer as linked to any of the pre-commencement land transactions for the purposes of Schedule 6B to the Finance Act 2003 and all other purposes of Part 4 of that Act.
(8) For this purpose—
“pre-commencement land transactions” means land transactions the effective date of which falls before 1 June 2024 or which meet the condition in paragraph (4) (a) or (b), and “post-commencement land transactions” means all other land transactions.
(9) The amendments made by this Resolution also do not have effect in relation to land transactions the effective date of which falls on or after 1 June 2024 if they fall within a description of land transactions specified in regulations made by the Treasury (irrespective of the date on which the regulations are made).
(10) The regulations may make provision of a kind mentioned in section 114(6)(a) to (c) of the Finance Act 2003 but may not be made on or after 1 February 2025.
And it is declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.