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Land and Buildings Transaction Tax (Scotland) Act 2013

Schedule 4 – Relief for certain acquisitions of residential property

191.Paragraph 1 of this schedule, introduced by section 27, provides an overview of Parts 2 to 6 of this schedule.

192.Paragraphs 2 and 3 make provision for full and partial relief from LBTT in relation to the acquisition of a dwelling by a house-building company from an individual who is also buying a new house from the company. Paragraph 4 sets out the qualifying conditions for the full and partial relief.

193.Paragraphs 5 and 6 make provision for full and partial relief from LBTT in relation to the acquisition of a dwelling by a property trader from an individual who is buying a new house from a house-building company. Paragraphs 7 and 8 set out the qualifying conditions for the relief.

194.Paragraphs 9 and 10 make provision for full and partial relief from LBTT in relation to the acquisition of a dwelling by a property trader from an individual where a chain of transactions involving the individual breaks down. Paragraphs 11 and 12 set out the qualifying conditions for the relief.

195.Paragraphs 13 to 17 set out the circumstances in which relief under this schedule may be withdrawn. See also section 33 which requires there to be a further return to the Tax Authority where relief is withdrawn.

196.Part 6 defines various terms used in this schedule.

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Text created by the Scottish Executive department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills

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