Search Legislation

Land and Buildings Transaction Tax (Scotland) Act 2013

Status:

This is the original version (as it was originally enacted).

30Notifiable transactions
This section has no associated Explanatory Notes

(1)A land transaction is notifiable unless it is—

(a)an exempt transaction,

(b)an acquisition of the ownership of land where the chargeable consideration for the acquisition is less than £40,000,

(c)an acquisition of a chargeable interest other than a major interest in land where the chargeable consideration does not exceed the nil rate tax band applicable to the transaction, or

(d)an acquisition specified in subsection (2).

(2)The following transactions in relation to leases are also not notifiable—

(a)the grant of a lease for a period of 7 years or more where—

(i)any chargeable consideration other than rent is less than £40,000, and

(ii)the relevant rent is less than £1,000,

(b)the assignation or renunciation of a lease where—

(i)the lease was originally granted for a period of 7 years or more, and

(ii)the chargeable consideration for the assignation or renunciation is less than £40,000,

(c)the grant of a lease for a period of less than 7 years where the chargeable consideration does not exceed the nil rate tax band applicable to the transaction, and

(d)the assignation or renunciation of a lease where—

(i)the lease was originally granted for a period of less than 7 years, and

(ii)the chargeable consideration for the assignation or renunciation does not exceed the nil rate tax band applicable to the transaction.

(3)In subsections (1) and (2), “chargeable consideration”—

(a)where the transaction is one of a number of linked transactions, means the total of the chargeable consideration for all the linked transactions,

(b)includes any amount in respect of which tax would be chargeable but for a relief.

(4)In subsection (2)(a)(ii), “relevant rent” means—

(a)the annual rent (as defined in paragraph 9(7) of schedule 19), or

(b)in the case of the grant of a lease to which paragraph 29 of schedule 17 applies, the relevant chargeable proportion of the annual rent (as calculated in accordance with that paragraph).

(5)The exceptions in subsections (1)(a) to (d) and (2) do not apply where the transaction is a transaction that a person is treated as entering into by virtue of section 11(3).

(6)This section has effect subject to—

(a)section 10(3) (substantial performance without completion),

(b)paragraph 17(6) of schedule 2 (arrangements involving public or educational bodies),

(c)paragraph 12 of schedule 7 (alternative property finance), and

(d)paragraph 41 of schedule 17 (transfer of partnership interests).

(7)The Scottish Ministers may, by order, amend subsection (1)(b), (2)(a)(i) or (b)(ii) so as to substitute, for the figure for the time being specified there, a different figure.

Back to top

Options/Help

Print Options

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Show Explanatory Notes for Sections: Displays relevant parts of the explanatory notes interweaved within the legislation content.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Notes

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

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources