Measure
The government has confirmed that an immediate, time-limited SDLT relief will be introduced for the pooling of Local Government Pension Scheme assets. The relief will apply to transfers of major interests in land, excluding the grant of new leases. This relief is in addition to the seeding relief already available under Schedule 7A of the Finance Act 2003. For the purposes of the new relief, qualifying funds are Co-ownership Authorised Contractual Schemes, Reserved Investor Funds (Contractual Scheme), and exempt unauthorised unit trusts. Unlike the existing seeding relief, the new relief is not available for Property Authorised Investment Funds.
Local Authorities and other organisations that are Administering Authorities (AAs) for the purposes of the Local Government Pension Scheme (LGPS), and LGPS asset pool companies established in England and Wales.
The relief will apply to transactions from 28 October 2026 and before 1 April 2032. This will be introduced through Finance Bill 2026-27.
This relief will facilitate transfers of land and property located in England and Northern Ireland from AAs to LGPS asset pool companies that are taking place as a result of wider government reforms to drive consolidation and strengthen the management of LGPS investments. This supports the Government’s aim to promote growth and increase investment in the UK.