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.