No versions valid at: 01/01/2015
Point in time view as at 01/01/2015. This version of this cross heading contains provisions that are not valid for this point in time.
There are currently no known outstanding effects for the Land and Buildings Transaction Tax (Scotland) Act 2013, Cross Heading: Meaning of “property trader” and “principal”.
Valid from 01/04/2015
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.
26SFor the purposes of this schedule—
(a)anything done by or in relation to a company connected with a property trader is treated as done by or in relation to that property trader, and
(b)references to the principals or employees of a property trader include the principals or employees of any such company.
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