SCHEDULES

SCHEDULE 3 Scottish tax on land transactions: consequential amendments

Part 1 Disapplication of stamp duty land tax to Scotland

Finance Act 1931

1 (1) Section 28 of the Finance Act 1931 (production to Commissioners of instruments transferring land) is amended as follows.

(2) In subsection (3), omit “or” after paragraph (a) and after paragraph (b) insert “; or

(c) to a Scottish transaction.”

(3) After subsection (3) insert—

“(3A) In subsection (3) “Scottish transaction” means the acquisition of—

(a) an estate, interest, right or power in or over land in Scotland, or

(b) the benefit of an obligation, restriction or condition affecting the value of any such estate, interest, right or power.”