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Land and Buildings Transaction Tax (Scotland) Act 2013

Land and Buildings Transaction Tax (Scotland) Act 2013

2013 asp 11

The Act

Part 2 – Key Concepts

Chapter 2 of Part 2 – Provision about Particular Transactions
General rules for contracts requiring conveyance
Section 8 – Contract and conveyance

28.Sections 8 and 9 establish the general rule that where a contract is to be completed by a conveyance it is the conveyance that represents the land transaction. This rule will apply in the majority of cases and ensures that a transaction is only charged to LBTT once. In a standard house purchase, the missives of sale are the contract and the disposition is the conveyance.

29.Special rules are provided for in sections 9 to 13.

30.Defined terms used in this section:

“completion”section 64
“contract”section 65
“conveyance”section 65

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Explanatory Notes

Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.

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