The Land and Buildings Transaction Tax (additional amount: transactions relating to second homes etc.) (Scotland) Amendment Order 2022

Approved by the Scottish Parliament

Madeat 11.41 a.m. on 15th December 2022

Laid before the Scottish Parliamentat 2.45 p.m. on 15th December 2022

Coming into force16th December 2022

The Scottish Ministers make the following Order in exercise of the powers conferred by paragraph 19(1) of schedule 2A of the Land and Buildings Transaction Tax (Scotland) Act 20131 and all other powers enabling them to do so.

Citation, commencement, application and interpretation1

1

This Order may be cited as the Land and Buildings Transaction Tax (additional amount: transactions relating to second homes etc.) (Scotland) Amendment Order 2022 and comes into force on 16 December 2022.

2

This Order has effect in relation to land transactions in relation to which the effective date is on or after 16 December 2022.

3

In this Order, “the Act” means the Land and Buildings Transaction Tax (Scotland) Act 2013.

Amendment of schedule 2A (additional amount: transactions relating to second homes etc.) of the Act2

Paragraph 4(2) of schedule 2A2 (additional amount: transactions relating to second homes etc.) of the Act is amended by substituting “6%” for “4%”.

Transitional provision3

This Order does not have effect in relation to any land transaction in relation to which the effective date is on or after 16 December 2022 if contracts for the land transaction have been entered into prior to 16 December 2022.

TOM ARTHURAuthorised to sign by the Scottish MinistersSt Andrew’s House,EdinburghAt 11.41 a.m. on 15th December 2022

EXPLANATORY NOTE

(This note is not part of the Order)

This Order amends the additional amount payable in respect of residential property in relation to second homes as specified in paragraph 4(2) of schedule 2A of the Land and Buildings Transaction Tax (Scotland) Act 2013.