Explanatory Notes

Land and Buildings Transaction Tax (Scotland) Act 2013

2013 asp 11

31 July 2013

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.