Land and Buildings Transaction Tax (Scotland) Act 2013 (asp 11) - Explanatory Notes

Explanatory Notes

Land and Buildings Transaction Tax (Scotland) Act 2013

2013 asp 11

31 July 2013

The Act

Part 2 – Key Concepts

Chapter 3 of Part 2 – Chargeable Transactions and Chargeable Consideration

Contingent, uncertain or unascertained consideration

Section 20 – Contingent, uncertain or unascertained consideration: further provision

57. Section 20 clarifies that sections 18 and 19 on contingent, uncertain or unascertained consideration are to be read with sections:

• 31 (return where contingency ceases or consideration ascertained),

• 32 (contingency ceases or consideration ascertained: less tax payable), and

• 41 (application to defer payment in case of contingent or uncertain consideration).