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

SCHEDULE 5 S Multiple dwellings relief

PART 4 S The relief

Tax due in relation to remaining property S

14 S The tax due in relation to remaining property is determined as follows.

• Step 1 Calculate the amount of tax that would be due in respect of the transaction but for this schedule.

• Step 2 Divide the consideration attributable to remaining property by the chargeable consideration for the transaction.

• Step 3 Multiply the amount calculated in Step 1 by the fraction reached in Step 2. The result is the tax due in relation to remaining property.

Commencement Information

I1 Sch. 5 para. 14 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2