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Land and Buildings Transaction Tax (Amendment) (Scotland) Act 2016

Paragraph 13 of schedule 2A – Deemed ownership: beneficiaries under certain trusts

65.Paragraph 13 concerns beneficiaries under bare trusts and certain other settlements, which are trusts other than bare trusts. In the case of a bare trust and a settlement having a relevant interest (as defined in paragraph 20) in trust property comprising a dwelling, the beneficiary will be treated as the owner of the dwelling for the purposes of considering whether the additional amount of LBTT applies to a chargeable transaction.

66.Interpretative provisions of the 2013 Act relevant to Paragraph 13—

“bare trust”paragraph 20(1) of schedule 2A
“dwelling”Part 6 of schedule 5
“relevant interest”paragraph 20(3) of schedule 2A
“settlement”paragraph 20(1) of schedule 2A.

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