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Land and Buildings Transaction Tax (Scotland) Act 2013

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    The Act

    Part 2 – Key Concepts

    Chapter 3 of Part 2 – Chargeable Transactions and Chargeable Consideration
    Chargeable transaction
    Section 16 – Exempt transaction

    51.Section 16 defines “exempt transaction” by reference to schedule 1. Where a transaction is an exempt transaction, no tax will be payable and the transaction will not be notifiable (see section 30(1)(a)).

    52.If a transaction falls outside the scope of LBTT (for example, a transaction involves only moveable property) then it is not liable to charge or to notification.

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