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Land and Buildings Transaction Tax (Scotland) Act 2013

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Changes over time for: Cross Heading: Calculation of relief

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Calculation of reliefS

10The amount of tax chargeable in relation to a relevant transaction [F1other than one to which schedule 2A applies] is—

where—

DT is the tax due in relation to a dwelling,

ND is the number of dwellings that are, or are part of, the main subject-matter of the transaction, and

RT is the tax due in relation to remaining property.

Textual Amendments

Commencement Information

I1 Sch. 5 para. 10 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

[F210AThe amount of tax chargeable in relation to a relevant transaction to which schedule 2A applies is—

where—

DT is the tax due in relation to each dwelling that is, or is part of, the main subject-matter of the transaction, and

RT is the tax due in relation to the remaining property.]

Textual Amendments

[F3 11 .But where DT x ND [F4or, as the case may be, SDT] is less than the minimum prescribed amount, the amount of tax chargeable in relation to the relevant transaction is—

where—

  • MPA is the minimum prescribed amount, and

  • RT is the tax due in relation to remaining property.

Textual Amendments

F3Sch. 5 paras. 11, 12 substituted (1.4.2015) by S.S.I. 2015/123, arts. 1, 8

Commencement Information

I2Sch. 5 para. 11 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

12 .The minimum prescribed amount is such proportion as may be prescribed by the Scottish Ministers by order of—

where—

  • TT is the amount of tax that would be due in respect of the transaction but for this schedule, and

  • RT is the tax due in relation to remaining property.]

Textual Amendments

F3Sch. 5 paras. 11, 12 substituted (1.4.2015) by S.S.I. 2015/123, arts. 1, 8

Commencement Information

I3Sch. 5 para. 12 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

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