SCHEDULES

SCHEDULE 3Scottish tax on land transactions: consequential amendments

Part 1Disapplication of stamp duty land tax to Scotland

Finance Act 1931

I11

1

Section 28 of the Finance Act 1931 (production to Commissioners of instruments transferring land) is amended as follows.

2

In subsection (3), omit “or” after paragraph (a) and after paragraph (b) insert

; or

c

to a Scottish transaction.

3

After subsection (3) insert—

3A

In subsection (3) “Scottish transaction” means the acquisition of—

a

an estate, interest, right or power in or over land in Scotland, or

b

the benefit of an obligation, restriction or condition affecting the value of any such estate, interest, right or power.