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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 25 March 2004 - onwards

70. Further relief from stamp duty in respect of transfers to young trained farmers.

The Principal Act is amended -

(a) by inserting the following after section 81:

"81A.

(1) In this section and Schedule 2A -

'interest in land' means an interest which is not subject to any power (whether or not contained in the instrument) on the exercise of which the land, or any part of or any interest in the land, may be revested in the person from whom it was conveyed or transferred or in any person on behalf of such person;

'land' means agricultural land and includes such farm buildings, farm houses and mansion houses (together with the lands occupied with such farm buildings, farm houses and mansion houses) as are of a character appropriate to the land;

'Schedule 2A qualification' means a qualification set out in Schedule 2A;

'young trained farmer' means a person in respect of whom it is shown to the satisfaction of the Commissioners that -

(a) the person had not attained the age of 35 years on the date on which the instrument, as respect which relief is being claimed under this section, was executed, and

(b) the conditions referred to in subsection (2), (3) or (4) are satisfied.

(2) The conditions required by this subsection are that the person, referred to in paragraph (a) of the definition of young trained farmer, is the holder of a Schedule 2A qualification, and -