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Land and Buildings Transaction Tax (Scotland) Act 2013
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PART 4Acquisition by property trader from individual where chain of transactions breaks down
Full relief
9Where a dwelling (“the old dwelling”) is acquired by a property trader from an individual (whether alone or with other individuals), the acquisition is exempt from charge if the qualifying conditions are met.
Partial relief
10Where qualifying conditions (a) to (g) but not (h) are met, the chargeable consideration for the acquisition is taken to be the amount calculated by deducting the market value of the permitted area from the market value of the old dwelling.
Qualifying conditions
11In this Part of this schedule, the qualifying conditions are—
(a)that the individual has made arrangements to sell the old dwelling and acquire another dwelling (“the second dwelling”),
(b)that the arrangements to sell the old dwelling fail,
(c)that the acquisition of the old dwelling is made for the purpose of enabling the individual’s acquisition of the second dwelling to proceed,
(d)that the acquisition is made in the course of a business that consists of or includes acquiring dwellings from individuals in the circumstances mentioned in conditions (a) to (c),
(e)that the individual occupied the old dwelling as the individual’s only or main residence at some time in the period of 2 years ending with the date of its acquisition,
(f)that the individual intends to occupy the second dwelling as the individual’s only or main residence,
(g)that the property trader does not intend—
(i)to spend more than the permitted amount on refurbishment of the old dwelling,
(ii)to grant a lease or licence of the old dwelling, or
(iii)to permit any of its principals or employees (or any person connected with any of its principals or employees) to occupy the old dwelling, and
(h)that the area of land acquired does not exceed the permitted area.
12Paragraph 11(g)(ii) does not apply to the grant of a lease or licence to the individual for a period of no more than 6 months.
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