Point in time view as at 27/05/2020.
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”.
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
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.
Commencement Information
I2 Sch. 4 para. 26 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2
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