Land and Buildings Transaction Tax (Scotland) Act 2013 (asp 11)

SCHEDULE 4 S Relief for certain acquisitions of residential property

PART 6 S Interpretation

Meaning of “property trader” and “principal” S

25 (1) A “property trader” means an entity listed in sub-paragraph (2) that carries on the business of buying and selling dwellings. S

(2) The entities are—

(a) a company,

(b) a limited liability partnership,

(c) a partnership whose partners are all either companies or limited liability partnerships.

(3) A “principal”—

(a) in relation to a company, means a director,

(b) in relation to a limited liability partnership, means a member,

(c) in relation to a partnership mentioned in sub-paragraph (2)(c) means a partner or a principal of a partner.

Commencement Information

I1 Sch. 4 para. 25 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2