127A.— Where—

(a) a relevant residential property is sold,

(b) the person who is the liable person in relation to it after the sale prepares and delivers a return in accordance with Part 7 in respect of the first liability date falling after the sale,

(c) the return referred to in paragraph (b) contains a full and true disclosure of all matters necessary for the establishment of the correct liability to local property tax, and

(d) local property tax is due in respect of a liability date falling before the sale,

the tax referred to in paragraph (d), together with any associated accrued interest, to the extent that it was not contained in any Revenue estimate, any Revenue assessment or any self-assessment, as the case may be, that was made before the sale shall not be a charge on the relevant residential property to which it relates.]