1.—(1) This Order may be cited as the Land and Buildings Transaction Tax (First-Time Buyer Relief) (Scotland) Order 2018 and comes into force on 30th June 2018.
(2) In this Order “the Act” means the Land and Buildings Transaction Tax (Scotland) Act 2013.
2. In section 25(3) of the Act (amount of tax chargeable), after paragraph (za)(1) insert—
“(zb)schedule 4A (first-time buyer relief),”.
3. In section 27(1) of the Act (reliefs), after “schedule 4 (relief for certain acquisitions of residential property),” insert—
“schedule 4A (first-time buyer relief),”.
4.—(1) In section 65 of the Act (general interpretation), after the definition of “employee” insert—
““first-time buyer relief” means relief under schedule 4A,”.
(2) In schedule 20 of the Act (index of defined expressions), after the entry for “exempt transaction” insert—
| “first-time buyer relief | section 65”. |
5. After schedule 4 of the Act, insert schedule 4A contained in the schedule of this Order.
6. The amendments made by articles 2 to 5 apply only in relation to a chargeable transaction in respect of which—
(a)the contract is entered into on or after 9th February 2018; and
(b)the effective date is on or after 30th June 2018.
DEREK MACKAY
A member of the Scottish Government
St Andrew’s House,
Edinburgh
28th June 2018