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Land and Buildings Transaction Tax (Scotland) Act 2013

Section 29 – Duty to make return

80.Section 29 provides that, for every notifiable transaction, a completed land transaction return (tax return), including a self-assessment of liability to LBTT, must be made by the buyer to the Tax Authority within 30 days of the effective date of the transaction. Any tax self-assessed as payable must be paid at the same time as the return is made (see section 40(2)(a)).

81.Further particular rules concerning returns are set out in sections 48(3) (joint buyers) and 57(2) (linked transactions), paragraph 34(3) of schedule 17 (partnerships), paragraph 15 of schedule 18 (trusts) and paragraphs 10(2), 11, 21(3)(a), 23(2)(a), 30 and 32(2)(a) of schedule 19 (leases).

82.Defined terms used in this section:

“chargeable transaction”section 15
“effective date”section 63
“make a return”section 38
“notifiable transaction”section 30
“Tax Authority”section 54

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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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