The Land and Buildings Transaction Tax (First-Time Buyer Relief) (Scotland) Order 2018

PART 2 First-time buyer relief

Amendment of section 25 of the Act

2.  In section 25(3) of the Act (amount of tax chargeable), after paragraph (za)(1) insert—

“(zb) schedule 4A (first-time buyer relief),”.

Amendment of section 27(1) of the Act

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),”.

Amendment of section 65 of and schedule 20 of the Act

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”.

Insertion of schedule 4A (first-time buyer relief) into the Act

5.  After schedule 4 of the Act, insert schedule 4A contained in the schedule of this Order.

Transitional provision

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.

(1)

Paragraph (za) was inserted by section 2(1)(a) of the Land and Buildings Transaction Tax (Amendment) (Scotland) Act 2016 (asp 11).