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

SCHEDULE 5 S Multiple dwellings relief

PART 4 S The relief

Tax due in relation to a dwelling S

13 S The tax due in relation to a dwelling is determined as follows.

• Step 1 Find the total consideration attributable to dwellings, that is—

  (a)

  the consideration attributable to dwellings for the transaction, or

  (b)

  where the transaction is one of a number of linked transactions, the sum of—

  (i)

  the consideration attributable to dwellings for the transaction, and

  (ii)

  the consideration attributable to dwellings for all other relevant transactions.

• Step 2 Divide the total consideration attributable to dwellings by total dwellings.“Total dwellings” is the total number of dwellings by reference to which the total consideration attributable to dwellings is calculated.

• Step 3 Calculate the amount of tax that would be due in relation to the relevant transaction were—

  (a)

  the chargeable consideration equal to the result obtained in Step 2,

  (b)

  the transaction a residential property transaction, and

  (c)

  the transaction not a linked transaction.

  The result is the tax due in relation to a dwelling.

Commencement Information

I1 Sch. 5 para. 13 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2