The Land and Buildings Transaction Tax (Sub-sale Development Relief and Multiple Dwellings Relief) (Scotland) Order 2015 No. 123

PART 3 Multiple dwellings relief

Modification of schedule 5 to the Act

8.  For paragraphs 11 and 12 of schedule 5 to the Act (multiple dwellings relief), substitute—

“11.   But where DT x ND 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.

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.”.