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

SCHEDULE 5 Multiple dwellings relief

PART 4 The relief

Tax due in relation to remaining property

14 The tax due in relation to remaining property is determined as follows.

• Step 1

  Calculate the amount of tax that would be due in respect of the transaction but for this schedule.

• Step 2

  Divide the consideration attributable to remaining property by the chargeable consideration for the transaction.

• Step 3

  Multiply the amount calculated in Step 1 by the fraction reached in Step 2.

  The result is the tax due in relation to remaining property.