Revenue Scotland and Tax Powers Act 2014 (asp 16)

PART 6 Tax returns, enquiries and assessments

CHAPTER 2 Taxpayer duties to keep and preserve records

Duty to keep and preserve records: further provision

81 Further provision: land and buildings transaction tax

(1) This section applies in relation to land and buildings transaction tax.

(2) The Scottish Ministers may by regulations make provision for the keeping and preservation of records in relation to land transactions that are not notifiable.

(3) Regulations under this section may require the buyer in a land transaction which is not notifiable to—

(a) keep such records as may be needed to enable the buyer to demonstrate that the transaction is not notifiable, and

(b) preserve those records in accordance with the regulations.

(4) The regulations may apply sections 74 to 79 (with or without modifications) to a buyer mentioned in subsection (3) as those sections apply to a person mentioned in section 74(1).

(5) Expressions used in this section and in the LBTT(S) Act 2013 have the meanings given in that Act.