Land and Buildings Transaction Tax (Scotland) Act 2013

Valid from 01/04/2015

Reverse premium S

14 (1) In the case of the grant, assignation or renunciation of a lease a reverse premium does not count as chargeable consideration. S

(2) A “reverse premium” means—

(a) in relation to the grant of a lease, a premium moving from the landlord to the tenant,

(b) in relation to the assignation of a lease, a premium moving from the assignor to the assignee,

(c) in relation to the renunciation of a lease, a premium moving from the tenant to the landlord.