Explanatory Notes

Land and Buildings Transaction Tax (Scotland) Act 2013

2013 asp 11

31 July 2013

The Act

Schedule 19 – Leases

Part 6 – Other Provisions about Leases

Reduction of rent or term or other variation of lease

308.Variations are not, generally, treated under Scots law as creating new leases. However paragraph 29 specifies three variations of leases which are treated for the purposes of the tax as acquisitions of chargeable interests.