Land and Buildings Transaction Tax (Scotland) Act 2013

Increase of rent or term: notification

30 (1) This paragraph applies where, in relation to a land transaction in respect of a lease which was not notifiable under section 30 (notifiable transactions)—

(a) the lease is varied so as to—

(i) extend its term, or

(ii) increase the amount of rent, and

(b) the effect of the variation is that the transaction would have been notifiable under section 30 had it been a lease for that term as so extended or for that rent as so increased (whether or not the effect of the variation is also that tax is payable in respect of the transaction where none was payable before).

(2) Where this paragraph applies—

(a) the buyer must make a return in respect of the transaction before the end of the period of 30 days beginning with the day after the relevant date,

(b) the return must include an assessment of the tax that, on the basis of the information contained in the return, is chargeable in respect of the transaction, and

(c) any tax so chargeable is to be calculated by reference to the tax rates and tax bands in force at the effective date of the transaction.

(3) The “relevant date” is the date from which the variation takes effect.

(4) For the purposes of section 30—

(a) a lease to which sub-paragraph (1)(a)(i) applies is a lease for whatever is its term as so extended, and

(b) a lease to which sub-paragraph (1)(a)(ii) applies is a lease for whatever is its rent as so increased.