92C Residential property investor relief.

(1) The amount of stamp duty chargeable under or by reference to paragraphs (1) to (6) of the heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance” or clauses (i) to (vi) of paragraph (3)(a) of the heading “LEASE”, as the case may be, in Schedule 1 on any instrument to which this section applies shall be reduced where—

(a) paragraph (1) or (2) or clause (i) or (ii) applies, to an amount equal to three-ninths,

(b) paragraph (3) or clause (iii) applies, to an amount equal to four-ninths,

(c) paragraph (4) or clause (iv) applies, to an amount equal to five-ninths,

(d) paragraph (5) or clause (v) applies, to an amount equal to six-ninths,

(e) paragraph (6) or clause (vi) applies, to an amount equal to seven and one half-ninths,

of the amount which would otherwise have been chargeable but where the amount so obtained is a fraction of £1 that amount shall be rounded up to the nearest £.

(2) This section shall apply to any instrument which contains a statement, in such form as the Commissioners may specify, certifying that the instrument—

(a) is one to which section 29 or 53 applies, or

(b) gives effect to the purchase of a dwellinghouse or apartment on the erection of that dwellinghouse or apartment and that section 29 or 53 do not apply.