Land and Buildings Transaction Tax (Scotland) Act 2013
Land and Buildings Transaction Tax (Scotland) Act 2013 (2013 asp 11)
- Land and Buildings Transaction Tax (Scotland) Act 2013 (2013 asp 11)
- PART 1 Land and buildings transaction tax
- 1 The tax
- 2 Overview
- PART 2 Key concepts
- CHAPTER 1 Land transactions and chargeable interests
- Land transaction
- 3 Land transaction
- Chargeable interest
- 4 Chargeable interest
- 5 Exempt interest
- Acquisition and disposal of chargeable interest
- 6 Acquisition and disposal of chargeable interest
- 7 Buyer and seller
- CHAPTER 2 Provision about particular transactions
- General rules for contracts requiring conveyance
- 8 Contract and conveyance
- 9 Completion without substantial performance
- 10 Substantial performance without completion
- Contract providing for conveyance to third party
- 11 Contract providing for conveyance to third party
- Options etc.
- 12 Options and rights of pre-emption
- Exchanges
- 13 Exchanges
- Interpretation
- 14 Meaning of “substantial performance”
- CHAPTER 3 Chargeable transactions and chargeable consideration
- Chargeable transaction
- 15 Chargeable transaction
- 16 Exempt transaction
- Chargeable consideration
- 17 Chargeable consideration
- Contingent, uncertain or unascertained consideration
- 18 Contingent consideration
- 19 Uncertain or unascertained consideration
- 20 Contingent, uncertain or unascertained consideration: further provision
- Annuities etc.
- 21 Annuities etc.: chargeable consideration limited to 12 years' payments
- Deemed market value
- 22 Deemed market value where transaction involves connected company
- 23 Exceptions from deemed market value
- PART 3 Calculation of tax and reliefs
- Amount of tax chargeable
- 24 Tax rates and tax bands
- 25 Amount of tax chargeable
- 26 Amount of tax chargeable: linked transactions
- 26A Additional amount: transactions relating to second homes etc.
- Reliefs
- 27 Reliefs
- Liability for tax
- 28 Liability for tax
- PART 4 Returns and payment
- CHAPTER 1 Returns
- Duty to make return
- 29 Duty to make return
- Notifiable transactions
- 30 Notifiable transactions
- Adjustments and further returns
- 31 Return where contingency ceases or consideration ascertained
- 32 Contingency ceases or consideration ascertained: less tax payable
- 33 Further return where relief withdrawn
- 34 Return or further return in consequence of later linked transaction
- Returns: form and content etc.
- 35 Form and content
- 36 Declaration
- 37 Amendment
- 37A Communications from taxpayers to the Tax Authority
- Miscellaneous
- 38 Interpretation
- 39 Power to amend period in which returns must be made
- CHAPTER 2 Payment of tax
- 40 Payment of tax
- 41 Application to defer payment in case of contingent or uncertain consideration
- 42 Regulations about applications under section 41
- CHAPTER 3 Registration of land transactions etc.
- 43 Return to be made and tax paid before application for registration
- PART 5 Application of act to certain persons and bodies
- 44 Companies and other organisations
- 45 Unit trust schemes
- 46 Open-ended investment companies
- 47 Residential property holding companies
- 48 Joint buyers
- 49 Partnerships
- 50 Trusts
- 51 Persons acting in a representative capacity etc.
- PART 6 Application of Act to leases and licences
- Leases
- 52 Application of this Act to leases
- Licences
- 53 Application of this Act to licences
- PART 7 General and interpretation
- The Tax Authority
- 54 The Tax Authority
- 55 Delegation of functions to Keeper
- 56 Review and appeal
- Linked transactions
- 57 Linked transactions
- Connected persons
- 58 Connected persons
- Interpretation
- 59 Meaning of “residential property”
- 60 Meaning of “major interest” in land
- 61 Meaning of “subject-matter” and “main subject-matter”
- 62 Meaning of “market value”
- 63 Meaning of “effective date” of a transaction
- 64 Meaning of “completion”
- 65 General interpretation
- 66 Index of defined expressions
- PART 8 Final provisions
- Ancillary provision
- 67 Ancillary provision
- Subordinate legislation
- 68 Subordinate legislation
- Crown application
- 69 Crown application
- Commencement and short title
- 70 Commencement
- 71 Short title
- SCHEDULE 1 Exempt transactions
- No chargeable consideration
- Acquisitions by the Crown
- Residential leases and licences
- Transactions in connection with divorce etc.
- Transactions in connection with dissolution of civil partnership etc.
- Assents and appropriations by personal representatives
- Variation of testamentary dispositions etc.
- Power to add, vary or remove exemptions
- SCHEDULE 2 Chargeable consideration
- Money or money's worth
- Value added tax
- Postponed consideration
- Just and reasonable apportionment
- Exchanges
- Partition etc.: disregard of existing interest
- Valuation of non-monetary consideration
- Debt as consideration
- Cases where conditions for exemption not fully met
- Conversion of amounts in foreign currency
- Carrying out of works
- Provision of services
- Land transaction entered into by reason of employment
- Indemnity given by buyer
- Buyer bearing inheritance tax liability
- Buyer bearing capital gains tax liability
- Arrangements involving public or educational bodies
- SCHEDULE 2A ADDITIONAL AMOUNT: TRANSACTIONS RELATING TO SECOND HOMES ETC.
- PART 1 OVERVIEW
- Overview
- PART 2 TRANSACTIONS TO WHICH THIS SCHEDULE APPLIES
- Transactions relating to second homes etc.
- Transactions where buyer is a non-individual etc.
- PART 3 THE ADDITIONAL AMOUNT
- Additional amount
- PART 4 CERTAIN TYPES OF BUYER
- Joint buyers
- Spouses, civil partners, cohabitants and children
- Trustees in certain trusts
- PART 5 REPAYMENT OF AND RELIEF FROM THE ADDITIONAL AMOUNT
- Repayment of additional amount in certain cases
- Repayment of additional amount: spouses, civil partners and cohabitants replacing main residence
- Repayment of additional amount: period for disposing of ownership of dwelling
- Relief for purchases of 6 or more dwellings
- Relief for spouses, civil partners and cohabitants replacing main residence
- Relief for beneficiaries
- Relief for separated spouses and civil partners retaining interest in former main residence
- Relief: supplemental
- PART 6 OWNERSHIP OF DWELLINGS
- What counts as a dwelling owned by a person?
- Deemed ownership: cases where title is not yet registered etc.
- Deemed ownership: beneficiaries under certain trusts
- Dwellings owned by trustees or personal representatives
- Deemed ownership: long leases
- Deemed ownership: proper liferents
- Deemed ownership: joint owners and owners of shares
- Dwellings outside Scotland: what counts as “ownership”
- PART 7 GENERAL PROVISION
- Power of Scottish Ministers to modify schedule
- Interpretation
- SCHEDULE 3 Sale and leaseback relief
- The relief
- Sale and leaseback arrangements
- Qualifying conditions
- Interpretation
- SCHEDULE 4 Relief for certain acquisitions of residential property
- PART 1 Introductory
- Overview of reliefs
- PART 2 Acquisition by house-building company from individual acquiring new dwelling
- Full relief
- Partial relief
- Qualifying conditions
- PART 3 Acquisition by property trader from individual acquiring new dwelling
- Full relief
- Partial relief
- Qualifying conditions
- PART 4 Acquisition by property trader from individual where chain of transactions breaks down
- Full relief
- Partial relief
- Qualifying conditions
- PART 5 Withdrawal of relief
- Introductory
- Relief under Part 3
- Relief under Part 4
- PART 6 Interpretation
- Meaning of “dwelling” and “new dwelling”
- Meaning of “permitted area”
- Meaning of “acquisition” and “market value” in relation to dwelling and permitted area
- Meaning of “house-building company”
- Meaning of “property trader” and “principal”
- Additional amount: transactions relating to second homes etc.
- Meaning of “refurbishment” and “the permitted amount”
- SCHEDULE 4A First-time buyer relief
- Eligibility for relief
- Meaning of first-time buyer
- Relief from the tax
- Eligibility for relief: alternative finance arrangements
- Deemed ownership: beneficiaries under certain trusts
- Dwellings owned by trustees or personal representatives
- Interpretation
- SCHEDULE 5 Multiple dwellings relief
- PART 1 Introductory
- Overview of relief
- PART 2 Transactions to which this schedule applies
- The rule
- Single transaction relating to multiple dwellings
- Linked transactions relating to multiple dwellings
- Excluded transactions
- PART 3 Key terms
- Consideration attributable to dwellings and remaining property
- Dwellings
- Interest in a dwelling
- PART 4 The relief
- Calculation of relief
- Tax due in relation to a dwelling
- Tax due in relation to remaining property
- General
- PART 5 Withdrawal of relief
- Full withdrawal of relief
- Partial withdrawal of relief
- Relevant period
- Interpretation
- PART 6 What counts as a dwelling
- SCHEDULE 6 Relief for certain acquisitions by registered social landlords
- The relief
- The qualifying conditions
- Landlord controlled by tenants
- SCHEDULE 6A RELIEF FOR CERTAIN ACQUISITIONS BY LOCAL AUTHORITIES
- The relief
- The qualifying conditions
- SCHEDULE 7 Alternative property finance relief
- PART 1 Introductory
- Overview
- PART 2 Alternative property finance: arrangements relieved
- Land sold to financial institution and leased to person
- Land sold to financial institution and person in common
- Land sold to financial institution and re-sold to person
- PART 3 Alternative property finance: arrangements not relieved
- No relief where first transaction already relieved
- No relief where arrangements to transfer control of financial institution
- PART 4 Exempt interest
- Interest held by financial institution an exempt interest
- PART 5 Interpretation
- Interpretation
- SCHEDULE 8 Relief for alternative finance investment bonds
- PART 1 Overview and interpretation
- Overview of relief
- Meaning of “alternative finance investment bond”
- Interpretation
- PART 2 Issue, transfer and redemption of rights under bond not to be treated as chargeable transaction
- The relief
- Relief not available where bond-holder acquires control of underlying asset
- PART 3 General conditions for operation of reliefs etc.
- Introduction
- Condition A
- Condition B
- Condition C
- Condition D
- Condition E
- Condition F
- Condition G
- PART 4 Relief for certain transactions
- The relief: first transaction
- Withdrawal of relief
- Amount of tax chargeable where relief withdrawn
- Relief from land and buildings transaction tax: second transaction
- Discharge of security when conditions for relief met
- PART 5 Supplementary
- Substitution of asset
- Tax Authority to register discharge of security
- Relief not available where bond-holder acquires control of underlying asset
- Relief not available if purpose of arrangements is improper
- SCHEDULE 9 Crofting community right to buy relief
- The relief
- The relief
- Interpretation
- SCHEDULE 10 Group relief
- PART 1 Introductory
- Overview
- PART 2 The relief
- The relief
- Restrictions on availability of relief
- Arrangements that do not restrict availability of relief
- Interpretation
- PART 3 Withdrawal of relief
- Overview
- Withdrawal of relief
- Amount of tax chargeable where relief withdrawn
- Amount of tax chargeable where relief partially withdrawn
- Case where relief not withdrawn: winding up
- Cases where relief not withdrawn: stamp duty reliefs
- Case where relief not withdrawn: seller leaves group
- Withdrawal of relief in certain cases involving successive transactions
- Interpretation
- PART 3A Recovery of relief
- Recovery of relief
- Recovery of relief: supplementary
- PART 4 Interpretation
- When are companies members of the same group?
- When is a company a subsidiary of another company?
- Other definitions
- SCHEDULE 10A Sub-sale development relief
- PART 1 Introductory
- Overview of relief
- PART 2 The relief
- General
- Qualifying sub-sale
- Qualifying conditions
- Subject-matter
- Significant development
- Full relief
- Partial relief
- Claiming the relief
- PART 3 Withdrawal of relief
- Full withdrawal of relief
- Partial withdrawal of relief
- PART 4 Supplementary
- Disapplication of section 14
- Qualifying sub-sale: consideration
- SCHEDULE 11 Reconstruction relief and acquisition relief
- PART 1 Introductory
- Overview
- PART 2 Reconstruction relief
- The relief
- Qualifying conditions
- PART 3 Acquisition relief
- The relief
- Qualifying conditions
- Interpretation
- PART 4 Withdrawal of relief
- Overview
- Withdrawal of relief
- Case where relief not withdrawn: change of control of acquiring company as result of transaction connected to divorce etc.
- Case where relief not withdrawn: exempt intra-group transfer
- Case where relief not withdrawn: share acquisition relief
- Case where relief not withdrawn: controlling loan creditor
- Withdrawal of relief on subsequent non-exempt transfer
- Withdrawal of relief where share acquisition relief applied but control of company subsequently changes
- Amount of tax chargeable where relief withdrawn
- Amount of tax chargeable where relief partially withdrawn
- Interpretation
- PART 4A Recovery of relief
- Recovery of relief
- Recovery of relief: supplementary
- PART 5 Interpretation
- When are companies members of the same group?
- When is a company a subsidiary of another company?
- Other definitions
- SCHEDULE 12 Relief for incorporation of limited liability partnership
- The relief
- The qualifying conditions
- Interpretation
- SCHEDULE 13 Charities relief
- The relief
- Qualifying conditions
- Qualifying charitable purposes
- Withdrawal of relief
- Charitable trusts
- Interpretation
- SCHEDULE 13A ( introduced by section 27 )
- The relief
- Interpretation
- SCHEDULE 13B (introduced by section 27)
- The relief
- Interpretation
- SCHEDULE 14 Relief for certain compulsory purchases
- The relief
- Qualifying condition
- Interpretation
- SCHEDULE 15 Relief for compliance with planning obligations
- The relief
- The qualifying conditions
- “Planning obligation” and “modification”
- Public authorities
- SCHEDULE 16 Public bodies relief
- The relief
- Meaning of “reorganisation”
- Public bodies
- SCHEDULE 16A VISITING FORCES AND INTERNATIONAL MILITARY HEADQUARTERS RELIEFS
- The relief
- SCHEDULE 16B RELIEF FOR PROPERTY ACCEPTED IN SATISFACTION OF TAX
- The relief
- SCHEDULE 16C LIGHTHOUSES RELIEF
- The relief
- Schedule 16D (introduced by section 27) Green Freeports Relief
- PART 1 Introductory
- Overview
- PART 2 The relief
- Full relief
- Partial relief
- Attributing chargeable consideration to land
- PART 3 Key terms
- Transaction land
- Qualifying green freeport land
- Use of land in a qualifying manner
- PART 4 Withdrawal of relief
- Withdrawal of relief
- The control period
- Disposal of interest in part of qualifying green freeport land during control period
- PART 5 Alternative finance arrangements
- Cases involving alternative finance arrangements
- Schedule 16E Investment Zones Relief
- Part 1 Introductory
- Overview
- Part 2 The relief
- Full relief
- Partial relief
- Attributing chargeable consideration to land
- Part 3 Key terms
- Transaction land
- Qualifying investment zone land
- Use of land in a qualifying manner
- Part 4 Withdrawal of relief
- Withdrawal of relief
- The control period
- Disposal of interest in part of qualifying investment zone land during control period
- Part 5 Alternative finance arrangements
- Cases involving alternative finance arrangements
- SCHEDULE 17 Partnerships
- PART 1 Overview
- Overview
- PART 2 General provisions
- Meaning of “partnership”
- Chargeable interests treated as being held by partners etc.
- Acquisition of interest in partnership not chargeable except as specially provided
- Continuity of partnership
- Partnership not to be regarded as unit trust scheme etc.
- PART 3 Ordinary partnership transactions
- Introduction
- Responsibility of partners
- Representative partners
- Joint and several liability of responsible partners
- PART 4 Transactions involving transfer to a partnership
- Overview of Part
- Circumstances in which this Part applies
- Calculation of chargeable consideration etc.
- Sum of the lower proportions
- Relevant owner
- Corresponding partner
- Transfer of partnership interest pursuant to earlier arrangements
- Withdrawal of money etc. from partnership after transfer of chargeable interest
- PART 5 Transactions involving transfer from a partnership
- Overview of Part
- Circumstances in which Part applies
- Calculation of chargeable consideration
- Sum of the lower proportions
- Relevant owner
- Corresponding partner
- Partnership share attributable to partner
- Transfer of chargeable interest from a partnership to a partnership
- Transfer of chargeable interest from a partnership consisting wholly of bodies corporate
- PART 6 Application of Parts 3 to 5 to leases
- Application of Parts 3 to 5 to leases
- PART 7 Property investment partnerships
- Overview of Part
- Meaning of “property investment partnership”
- Transfer of interest in partnership treated as land transaction
- Exclusion of market rent leases
- Partnership interests: application of provisions about exchanges etc.
- Election by property-investment partnership to disapply Part 4
- PART 8 Application of provisions on exemptions, reliefs and notification
- Overview of Part
- Application of exemptions and reliefs: general
- Application of group relief
- Application of charities relief
- Notification of transfers of partnership interests
- PART 9 Interpretation
- Introduction
- Partnership property
- Partnership share
- Transfer of chargeable interest
- Transfer of chargeable interest to a partnership
- Transfer of chargeable interest from a partnership
- Transfer of interest in a partnership
- Connected persons
- Arrangements
- SCHEDULE 18 Trusts
- PART 1 Overview
- Overview
- PART 2 Treatment of trusts and beneficiaries generally
- Interests of beneficiaries under certain trusts
- PART 3 Transactions involving bare trusts
- Acquisition of chargeable interest by bare trustee
- Grant of lease to bare trustee
- Grant of lease by bare trustee
- PART 4 Transactions involving settlements
- Acquisition by trustees of settlements
- Consideration for exercise of power of appointment or discretion
- Reallocation of trust property as between beneficiaries
- PART 5 Settlements: payment of tax and returns
- Liability to pay the tax
- Liability to make returns
- Duty to make declaration
- Responsible trustees
- PART 6 Interpretation
- Meaning of “bare trust”
- Meaning of “absolutely entitled”
- Meaning of “settlement”
- SCHEDULE 19 Leases
- PART 1 Introductory
- Overview
- Calculation of tax chargeable where chargeable consideration includes rent
- PART 2 Amount of tax chargeable: rent
- Tax rates and tax bands
- Amount of tax chargeable in respect of rent
- Amount of tax chargeable in respect of rent: linked transactions
- Net present value
- Temporal discount rate
- PART 3 Amount of tax chargeable: consideration other than rent
- Amount of tax chargeable in respect of consideration other than rent: general
- Amount of tax chargeable in respect of consideration other than rent: nil rate tax band
- PART 4 Review of tax chargeable
- Regular review of tax chargeable
- Review of tax chargeable on certain events
- PART 5 Chargeable consideration: rent and consideration other than rent
- Rent
- Variable or uncertain rent
- Reverse premium
- Tenant's obligations etc. that do not count as chargeable consideration
- Assignation of lease: assumption of obligations by assignee
- Loan or deposit in connection with grant or assignation of lease
- Renunciation of existing lease in return for new lease
- PART 6 Other provision about leases
- Meaning of lease for a fixed term
- Leases that continue after a fixed term
- Leases that continue after a fixed term: grant of new lease
- Treatment of leases for indefinite term
- Treatment of successive linked leases
- Rent for overlap period in case of grant of further lease
- Agreement for lease substantially performed etc.
- Missives of let followed by execution of formal lease
- Cases where assignation of lease treated as grant of lease
- Assignation of lease: responsibility of assignee for returns etc.
- Reduction of rent or term or other variation of lease
- Increase of rent or term: notification
- SCHEDULE 20 Index of defined expressions
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