SCHEDULES

SCHEDULE 3Scottish tax on land transactions: consequential amendments

Part 1Disapplication of stamp duty land tax to Scotland

Finance Act 2003

I127

1

Schedule 17A (further provision relating to leases) is amended as follows.

2

In paragraph 1 (meaning of “lease”) for “In the application of this Part to England and Wales or Northern Ireland” substitute “ In this Part ”.

3

In paragraph 4 (leases for indefinite term), in sub-paragraph (5)(b) omit “in England and Wales or Northern Ireland”.

4

In paragraph 7 (variable or uncertain rent), omit sub-paragraph (4A)(c) and (d).

5

In paragraph 10 (tenants' obligations etc that do not count as chargeable consideration), in sub-paragraph (1)(a) omit “(in Scotland, the leased premises)”.

6

In paragraph 12A(1) (agreement for lease) omit “in England and Wales or Northern Ireland”.

7

In paragraph 12B(1) (assignment of agreement for lease) omit “in England and Wales or Northern Ireland”.

8

In paragraph 13 (increase of rent treated as grant of new lease: variation of lease in first five years), in sub-paragraph (2)(b) for “any of paragraphs (a) to (d)” substitute “ paragraph (a) or (b) ”.

F19

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10

Omit paragraph 19 (provisions relating to leases in Scotland).