Land and Buildings Transaction Tax (Scotland) Act 2013

Treatment of successive linked leases S

23 (1) This paragraph applies where— S

(a) successive leases are granted or treated as granted (whether at the same time or at different times) of the same or substantially the same premises, and

(b) those grants are linked transactions.

(2) This Act applies as if the series of leases were a single lease—

(a) granted at the time of the grant of the first lease in the series,

(b) for a term equal to the aggregate of the terms of all the leases, and

(c) in consideration of the rent payable under all of the leases.

(3) The grant of later leases in the series is accordingly disregarded for the purposes of this Act except section 34 (return or further return in consequence of later linked transaction).

Commencement Information

I1 Sch. 19 para. 23 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2