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STATUTORY INSTRUMENTS

2001 No. 3747

TAXES

The Stamp Duty (Disadvantaged Areas) Regulations 2001

  Made 29th November 2001 
  Laid before the House of Commons 29th November 2001 
  Coming into force 30th November 2001 

The Treasury, in exercise of the powers conferred upon them by section 92(4) and (9) of the Finance Act 2001[1], hereby make the following Regulations:

Citation and commencement
     1. These Regulations may be cited as the Stamp Duty (Disadvantaged Areas) Regulations 2001 and shall come into force on 30th November 2001.

Designation of disadvantaged areas
     2. The following are designated as disadvantaged areas for the purposes of section 92 of, and Schedule 30 to, the Finance Act 2001 - 


Anne McGuire

John Heppell
Two of the Lords Commissioners of Her Majesty's Treasury

29th November 2001



SCHEDULE 1
Regulation 2


AREAS IN ENGLAND DESIGNATED AS DISADVANTAGED AREAS


The areas in England specified in this Schedule are - 



SCHEDULE 2
Regulation 2


AREAS IN WALES DESIGNATED AS DISADVANTAGED AREAS


The areas in Wales specified in this Schedule are - 



SCHEDULE 3
Regulation 2


AREAS IN SCOTLAND DESIGNATED AS DISADVANTAGED AREAS


The areas in Scotland specified in this Schedule are - 



SCHEDULE 4
Regulation 2


AREAS IN NORTHERN IRELAND DESIGNATED AS DISADVANTAGED AREAS


The areas in Northern Ireland specified in this Schedule are - 


EXPLANATORY NOTE

(This note is not part of the Regulations)


Section 92 of the Finance Act 2001 ("the 2001 Act") provides for an exemption from the stamp duty chargeable on a conveyance or transfer on sale of an estate or interest in land or a lease of land if the land in question is situated in a disadvantaged area. Schedule 30 to the 2001 Act makes similar provision in relation to cases where land is partly in a disadvantaged area. Section 92(4) of the 2001 Act provides that a disadvantaged area is an area designated as such by regulations made by the Treasury.

These Regulations designate the areas specified in Schedules 1 to 4 as disadvantaged areas for the purposes of section 92 of, and Schedule 30 to, the 2001 Act.

Schedule 1 specifies areas in England.

Schedule 2 specifies areas in Wales.

Schedule 3 specifies areas in Scotland.

Schedule 4 specifies areas in Northern Ireland.

The effect of section 92 of, and Schedule 30 to, the 2001 Act has been varied by the Variation of Stamp Duties Regulations 2001 (S.I. 2001/3746). As varied, the exemptions apply broadly only to conveyances or transfers on sale where the consideration is £150,000 or less or, in relation to grants of leases, only in respect of the stamp duty payable on a premium of £150,000 or less.

Notes:

 [1] 2001 c. 9. The effect of section 92 of, and Schedule 30 to, the Finance Act 2001 is varied by the Variation of Stamp Duties Regulations 2001 (S.I. 2001/3746).back

[2] The Index of Multiple Deprivation 2000 is available from the Department for Transport, Local Government and the Regions, Eland House, Bressenden Place, London SW1E 5DU and is also available on line at www.dtlr.gov.uk.back

[3] The Welsh Index of Multiple Deprivation 2000 is available from the Statistical Directorate, Briefing Unit, National Assembly for Wales, Cathays Park, Cardiff CF10 3NQ and is also available on line at www.wales.gov.uk.back

[4] Revising the Scottish Area Deprivation Index is available from the Scottish Executive, Central Research Unit, Victoria Quay, Edinburgh EH6 QQ and is also available on line at www.scotland.gov.uk.back

[5] Measures of Deprivation in Northern Ireland 2001 is available from the Northern Ireland Statistics and Research Agency, McAuley House, 2-14 Castle Street, Belfast BT1 1SA and is also available on line at www.nisra.gov.uk.back


ISBN 0 11 039052 0


 © Crown copyright 2001

Prepared 28 December 2001

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URL: http://www.bailii.org/uk/legis/num_reg/2001/20013747.html