Land and Buildings Transaction Tax (Scotland) Act 2013

PART 1Land and buildings transaction tax

PART 2Key concepts

CHAPTER 1Land transactions and chargeable interests

Land transaction

3Land transaction

Chargeable interest

4Chargeable interest

5Exempt interest

Acquisition and disposal of chargeable interest

6Acquisition and disposal of chargeable interest

7Buyer and seller

CHAPTER 2Provision about particular transactions

General rules for contracts requiring conveyance

8Contract and conveyance

9Completion without substantial performance

10Substantial performance without completion

Contract providing for conveyance to third party

11Contract providing for conveyance to third party

12Options and rights of pre-emption

Interpretation

14Meaning of “substantial performance”

CHAPTER 3Chargeable transactions and chargeable consideration

Chargeable transaction

15Chargeable transaction

16Exempt transaction

Chargeable consideration

17Chargeable consideration

Contingent, uncertain or unascertained consideration

18Contingent consideration

19Uncertain or unascertained consideration

20Contingent, uncertain or unascertained consideration: further provision

Annuities etc.

21Annuities etc.: chargeable consideration limited to 12 years' payments

Deemed market value

22Deemed market value where transaction involves connected company

23Exceptions from deemed market value

PART 3Calculation of tax and reliefs

Amount of tax chargeable

24Tax rates and tax bands

25Amount of tax chargeable

26Amount of tax chargeable: linked transactions

26AAdditional amount: transactions relating to second homes etc.

Liability for tax

28Liability for tax

PART 4Returns and payment

CHAPTER 1Returns

Duty to make return

29Duty to make return

Notifiable transactions

30Notifiable transactions

Adjustments and further returns

31Return where contingency ceases or consideration ascertained

32Contingency ceases or consideration ascertained: less tax payable

33Further return where relief withdrawn

34Return or further return in consequence of later linked transaction

Returns: form and content etc.

35Form and content

37ACommunications from taxpayers to the Tax Authority

Miscellaneous

38Interpretation

39Power to amend period in which returns must be made

CHAPTER 2Payment of tax

40Payment of tax

41Application to defer payment in case of contingent or uncertain consideration

42Regulations about applications under section 41

CHAPTER 3Registration of land transactions etc.

43Return to be made and tax paid before application for registration

PART 5Application of act to certain persons and bodies

44Companies and other organisations

45Unit trust schemes

46Open-ended investment companies

47Residential property holding companies

51Persons acting in a representative capacity etc.

PART 6Application of Act to leases and licences

52Application of this Act to leases

53Application of this Act to licences

PART 7General and interpretation

The Tax Authority

54The Tax Authority

55Delegation of functions to Keeper

56Review and appeal

Linked transactions

57Linked transactions

Connected persons

58Connected persons

Interpretation

59Meaning of “residential property”

60Meaning of “major interest” in land

61Meaning of “subject-matter” and “main subject-matter”

62Meaning of “market value”

63Meaning of “effective date” of a transaction

64Meaning of “completion”

65General interpretation

66Index of defined expressions

PART 8Final provisions

Ancillary provision

67Ancillary provision

Subordinate legislation

68Subordinate legislation

Crown application

69Crown application

Commencement and short title

SCHEDULE 1Exempt transactions

No chargeable consideration

1A land transaction is an exempt transaction if there is...

Acquisitions by the Crown

2A land transaction under which the buyer is any of...

Residential leases and licences

3(1) The grant, assignation or renunciation of—

Transactions in connection with divorce etc.

4A transaction between one party to a marriage and the...

Transactions in connection with dissolution of civil partnership etc.

5A transaction between one party to a civil partnership and...

Assents and appropriations by personal representatives

6(1) The acquisition of property by a person in or...

Variation of testamentary dispositions etc.

7(1) A transaction following a person's death that varies a...

Power to add, vary or remove exemptions

8The Scottish Ministers may, by regulations, modify this schedule so...

SCHEDULE 2Chargeable consideration

Money or money's worth

1The chargeable consideration for a transaction is, except as otherwise...

Value added tax

2The chargeable consideration for a transaction includes any value added...

Postponed consideration

3The amount or value of the chargeable consideration for a...

Just and reasonable apportionment

4(1) For the purposes of this Act consideration attributable—

5(1) This paragraph applies to determine the chargeable consideration where...

Partition etc.: disregard of existing interest

6In the case of a land transaction giving effect to...

Valuation of non-monetary consideration

7Except as otherwise expressly provided, the value of any chargeable...

Debt as consideration

8(1) Where the chargeable consideration for a land transaction consists...

Cases where conditions for exemption not fully met

9(1) Where a land transaction would be an exempt transaction...

Conversion of amounts in foreign currency

10(1) References in this Act to the amount or value...

Carrying out of works

11(1) Where the whole or part of the consideration for...

Provision of services

12(1) Where the whole or part of the consideration for...

Land transaction entered into by reason of employment

13Where a land transaction is entered into by reason of...

Indemnity given by buyer

14Where the buyer agrees to indemnify the seller in respect...

Buyer bearing inheritance tax liability

15Where— (a) there is a land transaction that is—

Buyer bearing capital gains tax liability

16(1) Where— (a) there is a land transaction under which...

Arrangements involving public or educational bodies

17(1) This paragraph applies in any case where arrangements are...

SCHEDULE 2AADDITIONAL AMOUNT: TRANSACTIONS RELATING TO SECOND HOMES ETC.

1(1) This schedule makes provision about an additional amount of...

PART 2TRANSACTIONS TO WHICH THIS SCHEDULE APPLIES

Transactions relating to second homes etc.

2(1) This schedule applies to a chargeable transaction if the...

Transactions where buyer is a non-individual etc.

3(1) This schedule applies to a chargeable transaction if the...

PART 3THE ADDITIONAL AMOUNT

Additional amount

4(1) Where this schedule applies to a chargeable transaction, the...

PART 4CERTAIN TYPES OF BUYER

5(1) This paragraph applies to a chargeable transaction which satisfies...

Spouses, civil partners, cohabitants and children

6(1) For the purposes of paragraph 2(1)(c), a dwelling which...

Trustees in certain trusts

7(1) This paragraph applies to a chargeable transaction which satisfies...

PART 5REPAYMENT OF AND RELIEF FROM THE ADDITIONAL AMOUNT

Repayment of additional amount in certain cases

8(1) Sub-paragraph (2) applies in relation to a chargeable transaction...

Repayment of additional amount: spouses, civil partners and cohabitants replacing main residence

8A(1) Sub-paragraph (2) applies in relation to a chargeable transaction...

Repayment of additional amount: period for disposing of ownership of dwelling

8B(1) Sub-paragraph (2) applies in relation to a chargeable transaction...

Relief for purchases of 6 or more dwellings

9A chargeable transaction is exempt from the additional amount if...

Relief for spouses, civil partners and cohabitants replacing main residence

9A(1) A chargeable transaction to which this schedule applies by...

Relief for beneficiaries

9B(1) A chargeable transaction to which this schedule applies by...

Relief for separated spouses and civil partners retaining interest in former main residence

9CA chargeable transaction to which this schedule applies by virtue...

Relief: supplemental

10(1) A relief under paragraph 9 must be claimed in...

PART 6OWNERSHIP OF DWELLINGS

What counts as a dwelling owned by a person?

11(1) This paragraph applies to determine what counts as a...

Deemed ownership: cases where title is not yet registered etc.

12(1) This paragraph applies to determine, for the purposes of...

Deemed ownership: beneficiaries under certain trusts

13(1) This paragraph applies where a person is the beneficiary...

Dwellings owned by trustees or personal representatives

14(1) This paragraph applies where a person owns a dwelling...

Deemed ownership: long leases

15(1) This paragraph applies where a person (“the tenant”) is...

Deemed ownership: proper liferents

16(1) This paragraph applies where a person (“the liferenter”) holds...

Deemed ownership: joint owners and owners of shares

17(1) This paragraph applies where two or more persons are...

Dwellings outside Scotland: what counts as “ownership”

18(1) In the case of a dwelling situated outside Scotland,...

PART 7GENERAL PROVISION

Power of Scottish Ministers to modify schedule

19(1) The Scottish Ministers may by order amend paragraph 4(2)...

20(1) In this schedule— “ bare trust ” has the...

SCHEDULE 3Sale and leaseback relief

1The leaseback element of a sale and leaseback arrangement is...

Sale and leaseback arrangements

2A sale and leaseback arrangement is an arrangement under which—...

Qualifying conditions

3The qualifying conditions are— (a) that the sale transaction is...

4In this schedule, “debt” has the same meaning as in...

SCHEDULE 4Relief for certain acquisitions of residential property

PART 1Introductory

Overview of reliefs

1(1) This schedule provides for relief in the case of...

PART 2Acquisition by house-building company from individual acquiring new dwelling

2Where a dwelling (“the old dwelling”) is acquired by a...

3Where qualifying conditions (a) to (d) but not (e) are...

Qualifying conditions

4In this Part of this schedule, the qualifying conditions are—...

PART 3Acquisition by property trader from individual acquiring new dwelling

5Where a dwelling (“the old dwelling”) is acquired by a...

6Where qualifying conditions (a) to (e) but not (f) are...

Qualifying conditions

7In this Part of this schedule, the qualifying conditions are—...

8Paragraph 7(e)(ii) does not apply to the grant of a...

PART 4Acquisition by property trader from individual where chain of transactions breaks down

9Where a dwelling (“the old dwelling”) is acquired by a...

10Where qualifying conditions (a) to (g) but not (h) are...

Qualifying conditions

11In this Part of this schedule, the qualifying conditions are—...

12Paragraph 11(g)(ii) does not apply to the grant of a...

PART 5Withdrawal of relief

13(1) Relief under this schedule is withdrawn in the following...

Relief under Part 3

14Relief under Part 3 of this schedule (acquisition by property...

15Paragraph 14(b) does not apply to the grant of a...

Relief under Part 4

16Relief under Part 4 of this schedule (acquisition by property...

17Paragraph 16(b) does not apply to the grant of a...

PART 6Interpretation

Meaning of “dwelling” and “new dwelling”

18“Dwelling” includes land occupied and enjoyed with the dwelling as...

19A building or part of a building is a “new...

Meaning of “permitted area”

20“The permitted area”, in relation to a dwelling, means land...

21Where paragraph 20(b) applies, the permitted area is taken to...

Meaning of “acquisition” and “market value” in relation to dwelling and permitted area

22References in this schedule to— (a) the acquisition of a...

Meaning of “house-building company”

23A “house-building company” means a company that carries on the...

24References in this schedule to such a company include any...

Meaning of “property trader” and “principal”

25(1) A “property trader” means an entity listed in sub-paragraph...

26For the purposes of this schedule— (a) anything done by...

Additional amount: transactions relating to second homes etc.

26ASchedule 2A makes provision about an additional amount of tax...

Meaning of “refurbishment” and “the permitted amount”

27“Refurbishment” of a dwelling means the carrying out of works...

28The “permitted amount”, in relation to the refurbishment of a...

SCHEDULE 4AFirst-time buyer relief

1Eligibility for relief

2Meaning of first-time buyer

3Relief from the tax

4Eligibility for relief: alternative finance arrangements

5Deemed ownership: beneficiaries under certain trusts

6Dwellings owned by trustees or personal representatives

7Interpretation

SCHEDULE 5Multiple dwellings relief

PART 1Introductory

Overview of relief

1(1) This schedule provides for relief in the case of...

PART 2Transactions to which this schedule applies

2This schedule applies to relevant transactions.

3A relevant transaction is a transaction (other than a transaction...

Single transaction relating to multiple dwellings

4A transaction is within this paragraph if its main subject-matter...

Linked transactions relating to multiple dwellings

5A transaction is within this paragraph if—

Excluded transactions

6A transaction is excluded by this paragraph if—

PART 3Key terms

Consideration attributable to dwellings and remaining property

7In relation to a relevant transaction— (a) the consideration attributable...

8“The dwellings” are, in relation to a relevant transaction, the...

Interest in a dwelling

9A reference in this schedule to an interest in a...

PART 4The relief

Calculation of relief

10The amount of tax chargeable in relation to a relevant...

10AThe amount of tax chargeable in relation to a relevant...

11But where DT x ND or, as the case may...

12The minimum prescribed amount is such proportion as may be...

Tax due in relation to a dwelling

13The tax due in relation to a dwelling is determined...

Tax due in relation to remaining property

14The tax due in relation to remaining property is determined...

15“Attributable” means attributable on a just and reasonable basis.

PART 5Withdrawal of relief

Full withdrawal of relief

16Relief under this schedule is withdrawn in relation to a...

17Where relief is withdrawn, the amount of tax chargeable is...

Partial withdrawal of relief

18Relief under this schedule is partially withdrawn in relation to...

19Where relief is partially withdrawn, tax is chargeable on the...

20In that case, the tax so chargeable must be calculated...

Relevant period

21“The relevant period” means the shorter of—

22In relation to a transaction effected on completion of a...

23In this Part of this schedule, “event” includes any change...

PART 6What counts as a dwelling

24This Part of this schedule sets out rules for determining...

25A building or part of a building counts as a...

26Land that is, or is to be, occupied or enjoyed...

27Land that subsists, or is to subsist, for the benefit...

28The main subject-matter of a transaction is also taken to...

29In paragraph 28, “relevant deeming provision” means section 10 or...

30Subsections (3) to (6) of section 59 apply for the...

SCHEDULE 6Relief for certain acquisitions by registered social landlords

1A land transaction under which the buyer is a registered...

The qualifying conditions

2The qualifying conditions are— (a) that the registered social landlord...

Landlord controlled by tenants

3The reference in paragraph 2(a) to a registered social landlord...

4For the purposes of paragraph 3, “board member” is to...

SCHEDULE 6ARELIEF FOR CERTAIN ACQUISITIONS BY LOCAL AUTHORITIES

1A land transaction under which the buyer is a local...

The qualifying conditions

2The qualifying conditions are— (a) that the transaction is entered...

SCHEDULE 7Alternative property finance relief

PART 1Introductory

1(1) This schedule makes provision for relief in the case...

PART 2Alternative property finance: arrangements relieved

Land sold to financial institution and leased to person

2Paragraphs 3 to 6 apply where arrangements are entered into...

3The first transaction is exempt from charge if the seller...

4The second transaction is exempt from charge if the provisions...

5A transfer to the person that results from the exercise...

6The agreement mentioned in paragraph 2(c) is not to be...

Land sold to financial institution and person in common

7Paragraphs 8 to 12 apply where arrangements are entered into...

8The first transaction is exempt from charge if the seller...

9The second transaction is exempt from charge if the provisions...

10Any transfer to the person that results from the exercise...

11The agreement mentioned in paragraph 7(c) is not to be...

12A further transaction that is exempt from charge by virtue...

Land sold to financial institution and re-sold to person

13Paragraphs 14 and 15 apply where arrangements are entered into...

14The first transaction is exempt from charge if the seller...

15The second transaction is exempt from charge if the financial...

PART 3Alternative property finance: arrangements not relieved

No relief where first transaction already relieved

16Paragraphs 2 to 12 do not apply to arrangements in...

No relief where arrangements to transfer control of financial institution

17Paragraphs 2 to 12 do not apply to alternative finance...

18That includes arrangements for a person to acquire control of...

19In paragraphs 17 and 18— “alternative finance arrangements” means the...

20Section 1124 of the Corporation Tax Act 2010 (c.4) applies...

PART 4Exempt interest

Interest held by financial institution an exempt interest

21An interest held by a financial institution as a result...

22That interest ceases to be an exempt interest if—

23Paragraph 21 does not apply if the first transaction is...

24Paragraph 21 does not make an interest exempt in respect...

PART 5Interpretation

25(1) In this schedule “financial institution” has the meaning given...

26In this schedule— “arrangements” includes any agreement, understanding, scheme, transaction...

SCHEDULE 8Relief for alternative finance investment bonds

PART 1Overview and interpretation

Overview of relief

1(1) This schedule makes provision for relief in the case...

Meaning of “alternative finance investment bond”

2In this schedule, “alternative finance investment bond” means arrangements to...

3In this schedule— “bond assets”, “bond-holder”, “bond-issuer” and “capital” have...

PART 2Issue, transfer and redemption of rights under bond not to be treated as chargeable transaction

4For the purposes of this Act— (a) the bond-holder under...

Relief not available where bond-holder acquires control of underlying asset

5(1) Paragraph 4 does not apply if control of the...

6(1) But paragraph 5(1) does not apply (and accordingly, section...

PART 3General conditions for operation of reliefs etc.

7This Part of this schedule defines conditions A to G...

8Condition A is that one person (P) and another (Q)...

9Condition B is that— (a) Q, as bond-issuer, enters into...

10(1) Condition C is that, for the purpose of generating...

11(1) Condition D is that, before the end of the...

12Condition E is that the total of the payments of...

13Condition F is that Q holds the interest in land...

14(1) Condition G is that— (a) before the end of...

PART 4Relief for certain transactions

The relief: first transaction

15(1) The first transaction is exempt from charge if—

Withdrawal of relief

16(1) Relief under paragraph 15 is withdrawn if—

Amount of tax chargeable where relief withdrawn

17Where relief is withdrawn, the amount of tax chargeable is...

18The amount chargeable is the tax that would have been...

Relief from land and buildings transaction tax: second transaction

19(1) The second transaction is exempt from charge if—

Discharge of security when conditions for relief met

20If, after the effective date of the second transaction, Q...

PART 5Supplementary

Substitution of asset

21(1) This paragraphs applies if— (a) conditions A to C...

22(1) Paragraph 21 also applies where the replacement land is...

Tax Authority to register discharge of security

23(1) Where a security is discharged in accordance with paragraph...

Relief not available where bond-holder acquires control of underlying asset

24(1) The reliefs provided by paragraphs 15 and 19 (and...

25(1) But paragraph 24 does not prevent the reliefs being...

Relief not available if purpose of arrangements is improper

26The reliefs provided by paragraph 15 and 19 (and paragraph...

SCHEDULE 9Crofting community right to buy relief

4In this schedule “crofting community right to buy” means the...

SCHEDULE 10Group relief

PART 1Introductory

1(1) This schedule provides for relief for certain transactions involving...

PART 2The relief

2A land transaction is exempt from charge if the seller...

Restrictions on availability of relief

3Relief under this schedule is not available if at the...

4Paragraph 3 does not apply to arrangements to which paragraph...

5Relief under this schedule is not available if the transaction...

6Arrangements are within paragraph 5(a) if under them the seller...

7Paragraph 5(b) does not apply to arrangements to which paragraph...

8Relief under this schedule is not available if the transaction—...

Arrangements that do not restrict availability of relief

9This paragraph applies to arrangements entered into with a view...

10This paragraph applies to arrangements in so far as they...

10A(1) This paragraph applies to arrangements if and for so...

11In this Part of this schedule— “control” has the meaning...

PART 3Withdrawal of relief

12This Part of this schedule is arranged as follows— paragraphs...

Withdrawal of relief

13Relief under this schedule is withdrawn or partially withdrawn where—...

14This paragraph applies where the buyer in the transaction which...

15This paragraph applies where, at the time the buyer ceases...

15AThis paragraph applies where— (a) the relief under this schedule...

Amount of tax chargeable where relief withdrawn

16Where relief is withdrawn, the amount of tax chargeable is...

17The amount chargeable is the tax that would have been...

Amount of tax chargeable where relief partially withdrawn

18Where relief is partially withdrawn, the amount of tax chargeable...

19An “appropriate proportion” means an appropriate proportion having regard to—...

Case where relief not withdrawn: winding up

20Relief under this schedule is not withdrawn where the buyer...

Cases where relief not withdrawn: stamp duty reliefs

21Relief under this schedule is not withdrawn where—

22Relief under this schedule is not withdrawn where—

23But where, in a case to which paragraph 21 or...

24The circumstances referred to in paragraph 23(a) are that the...

25This paragraph applies to a chargeable interest—

Case where relief not withdrawn: seller leaves group

26Relief under this schedule is not withdrawn where the buyer...

27The seller is regarded as leaving the group if the...

28But if there is a change in the control of...

29Paragraph 28 does not apply where— (a) there is a...

30There is a change in the control of the buyer...

31For the purposes of paragraph 30 a person does not...

Withdrawal of relief in certain cases involving successive transactions

32Where the following conditions are met, paragraphs 13 to 31...

33The first condition is that there is a change in...

34The second condition is that the change occurs—

35The third condition is that, apart from paragraph 32, relief...

36The fourth condition is that any previous transaction falls within...

37A previous transaction falls within this paragraph if—

38Paragraph 33 does not apply where— (a) there is a...

39If two or more transactions effected at the same time...

40There is a change in the control of a company...

41For the purposes of paragraphs 20 and 27 a company...

42In this Part of this schedule— “control” is to be...

PART 3ARecovery of relief

42ARecovery of relief

42BThe following persons may, by notice under paragraph 42E, be...

42CFor the purposes of paragraph 42B(b)— (a) a “ relevant...

42DIn paragraph 42B(c)— “ director ”, in relation to a...

42ERecovery of relief: supplementary

42FAny such notice must be given before the end of...

42GThe notice must state the amount required to be paid...

42HThe notice has effect— (a) for the purposes of the...

42IA person who has paid an amount in pursuance of...

42JA payment in pursuance of a notice under paragraph 42E...

42KIn paragraph 42H, “ Revenue Scotland assessment ” has the...

PART 4Interpretation

When are companies members of the same group?

43Companies are members of the same group if one is...

When is a company a subsidiary of another company?

44A company (A) is the 75% subsidiary of another company...

45For the purposes of paragraph 44(a)— (a) the ownership referred...

46“Ordinary share capital”, in relation to a company, means all...

47Chapter 6 of Part 5 of the Corporation Tax Act...

48But sections 171(1)(b) and (3), 173, 174 and 176 to...

Other definitions

49In this schedule— “arrangements” includes any scheme, agreement or understanding,...

SCHEDULE 10ASub-sale development relief

PART 1Introductory

Overview of relief

1(1) This schedule provides for relief in the case of...

PART 2The relief

2(1) Relief under this schedule may be claimed by the...

Qualifying sub-sale

3A sub-sale is a qualifying sub-sale if—

Qualifying conditions

4(1) The qualifying conditions are that— (a) the substantial performance...

5References in this schedule to the “subject-matter” of a qualifying...

6References in this schedule to “part of the subject-matter” of...

Significant development

7In this schedule— “development”— means the building, on the subject-matter...

8In paragraph 7— “agricultural” is to be construed as meaning...

9(1) Where the subject-matter of the qualifying sub-sale is the...

10(1) Where the subject-matter of the qualifying sub-sale is part...

Claiming the relief

11Where the first buyer claims relief under this schedule, the...

12Relief under this schedule may not be claimed if relief...

PART 3Withdrawal of relief

Full withdrawal of relief

13Relief under this schedule is withdrawn if no development of...

14Where relief is withdrawn, the amount of tax chargeable in...

Partial withdrawal of relief

15(1) Relief under this schedule is partially withdrawn if—

PART 4Supplementary

Disapplication of section 14

16Where relief under this schedule is given, section 14(1)(c) is...

Qualifying sub-sale: consideration

17Where relief under this schedule is given the chargeable consideration...

SCHEDULE 11Reconstruction relief and acquisition relief

PART 1Introductory

1(1) This schedule provides for relief for certain transactions in...

PART 2Reconstruction relief

2A land transaction is exempt from charge if—

Qualifying conditions

3The qualifying conditions are— (a) that a company (“the acquiring...

4Where the consideration for the acquisition consists partly of the...

5If, immediately before the acquisition, the target company or the...

PART 3Acquisition relief

6(1) This paragraph applies where— (a) a land transaction is...

Qualifying conditions

7The qualifying conditions are— (a) that a company (“the acquiring...

8Where the consideration for the acquisition consists partly of the...

9For the purposes of qualifying condition (c)—

10In this Part of this schedule, “trade” includes any venture...

PART 4Withdrawal of relief

11This Part of this schedule is arranged as follows— paragraphs...

Withdrawal of relief

12Relief under Part 2 or Part 3 of this schedule...

13This paragraph applies where control of the acquiring company changes—...

14This paragraph applies where, at the time the control of...

Case where relief not withdrawn: change of control of acquiring company as result of transaction connected to divorce etc.

15Relief under Part 2 or Part 3 of this schedule...

16Relief under Part 2 or Part 3 of this schedule...

Case where relief not withdrawn: exempt intra-group transfer

17Relief under Part 2 or Part 3 of this schedule...

18But see paragraphs 22 to 24 for the effect of...

Case where relief not withdrawn: share acquisition relief

19Relief under Part 2 or Part 3 of this schedule...

20But see paragraphs 25 to 28 for the effect of...

Case where relief not withdrawn: controlling loan creditor

21Relief under Part 2 or Part 3 of this schedule...

Withdrawal of relief on subsequent non-exempt transfer

22Relief under Part 2 or Part 3 of this schedule...

23This paragraph applies where a company holding shares in the...

24This paragraph applies where the acquiring company or a relevant...

Withdrawal of relief where share acquisition relief applied but control of company subsequently changes

25Relief under Part 2 or Part 3 of this schedule...

26This paragraph applies where control of the other company mentioned...

27This paragraph applies where, at the time control of that...

28This paragraph applies where the acquiring company or a relevant...

Amount of tax chargeable where relief withdrawn

29Where relief is withdrawn, the amount of tax chargeable is...

30The amount chargeable is the tax that would have been...

Amount of tax chargeable where relief partially withdrawn

31Where relief is partially withdrawn, the tax chargeable is an...

32An “appropriate proportion” means an appropriate proportion having regard to—...

33In paragraphs 19 and 25— (a) “share acquisition relief” means...

34In this Part of this schedule, references to control of...

35In this Part of this schedule— “control” is to be...

PART 4ARecovery of relief

35ARecovery of relief

35BThe following persons may, by notice under paragraph 35E, be...

35CFor the purposes of paragraph 35B— (a) “ relevant time...

35DIn paragraph 35B(b)— “ director ”, in relation to a...

35ERecovery of relief: supplementary

35FAny such notice must be given before the end of...

35GThe notice must state the amount required to be paid...

35HThe notice has effect— (a) for the purposes of the...

35IA person who has paid an amount in pursuance of...

35JA payment in pursuance of a notice under paragraph 35E...

35KIn paragraph 35H, “ Revenue Scotland assessment ” has the...

PART 5Interpretation

When are companies members of the same group?

36Companies are members of the same group if one is...

When is a company a subsidiary of another company?

37A company (A) is the 75% subsidiary of another company...

38For the purposes of paragraph 37— (a) the ownership referred...

39“Ordinary share capital”, in relation to a company, means all...

40Chapter 6 of Part 5 of the Corporation Tax Act...

41But sections 171(1)(b) and (3), 173, 174 and 176 to...

Other definitions

42In this schedule— “arrangements” include any scheme, agreement or understanding,...

SCHEDULE 12Relief for incorporation of limited liability partnership

1A land transaction by which a chargeable interest is transferred...

The qualifying conditions

2The qualifying conditions are— (a) that the effective date of...

3In this schedule— “limited liability partnership” means a limited liability...

SCHEDULE 13Charities relief

1A land transaction is exempt from charge if the buyer...

Qualifying conditions

2The qualifying conditions are— (a) that the buyer intends to...

Qualifying charitable purposes

3A buyer holds the subject-matter of a transaction for qualifying...

Withdrawal of relief

4Relief under this schedule is withdrawn, or partially withdrawn, if—...

5A “disqualifying event” means— (a) the buyer ceasing to be...

6Where the relevant transaction is exempt from charge by virtue...

7A lease— (a) is granted “at a premium” if there...

8Where relief is withdrawn, the amount of tax chargeable is...

9Where relief is partially withdrawn, the amount of tax chargeable...

10An “appropriate proportion” means an appropriate proportion having regard to—...

11In relation to a transfer or grant that is, by...

Charitable trusts

12This schedule applies in relation to a charitable trust as...

13“Charitable trust” means— (a) a trust of which all the...

14In this schedule as it applies in relation to a...

15(1) In this schedule, “charity” means— (a) a body registered...

16In this schedule, "charitable purposes" has the meaning given by...

17In this schedule, “annual rent” means the average annual rent...

SCHEDULE 13A( introduced by section 27 )

FRIENDLY SOCIETIES RELIEF

2Interpretation

SCHEDULE 13B(introduced by section 27)

BUILDING SOCIETIES RELIEF

2Interpretation

SCHEDULE 14Relief for certain compulsory purchases

1An acquisition of a chargeable interest by a local authority...

Qualifying condition

2The qualifying condition is that the local authority has made...

3For the purposes of this schedule it does not matter...

SCHEDULE 15Relief for compliance with planning obligations

1A land transaction that is entered into in order to...

The qualifying conditions

2The qualifying conditions are— (a) that the planning obligation or...

“Planning obligation” and “modification”

3“Planning obligation” means an agreement made under section 75 of...

4“Modification” of a planning obligation means modification as mentioned in...

Public authorities

5The following are public bodies for the purposes of paragraph...

SCHEDULE 16Public bodies relief

1A land transaction entered into on, in consequence of or...

2The Scottish Ministers may, by order, provide that a land...

Meaning of “reorganisation”

3A “reorganisation” means changes involving— (a) the establishment, reform or...

4The following are public bodies for the purposes of this...

5In this schedule, references to a public body include—

6In paragraphs 4 and 5, “company” means a company as...

SCHEDULE 16AVISITING FORCES AND INTERNATIONAL MILITARY HEADQUARTERS RELIEFS

1A land transaction entered into with a view to any...

2Paragraph 1 has effect in relation to any designated international...

3In this schedule— “designated” means designated by or under any...

SCHEDULE 16BRELIEF FOR PROPERTY ACCEPTED IN SATISFACTION OF TAX

1A land transaction entered into under section 9(4) of the...

SCHEDULE 16CLIGHTHOUSES RELIEF

1A land transaction entered into by or under the direction...

2A land transaction entered into by or under the direction...

Schedule 16D (introduced by section 27)Green Freeports Relief

PART 1Introductory

PART 2The relief

3Partial relief

4Attributing chargeable consideration to land

PART 3Key terms

5Transaction land

6Qualifying green freeport land

7Use of land in a qualifying manner

PART 4Withdrawal of relief

8Withdrawal of relief

9The control period

10Disposal of interest in part of qualifying green freeport land during control period

PART 5Alternative finance arrangements

11Cases involving alternative finance arrangements

SCHEDULE 17Partnerships

1(1) This schedule makes provision about the application of this...

PART 2General provisions

Meaning of “partnership”

2In this Act, “ partnership ” means—

Chargeable interests treated as being held by partners etc.

3(1) For the purposes of this Act—

Acquisition of interest in partnership not chargeable except as specially provided

4The acquisition of an interest in a partnership is not...

Continuity of partnership

5For the purposes of this Act, a partnership is treated...

Partnership not to be regarded as unit trust scheme etc.

6A partnership is not to be regarded for the purposes...

PART 3Ordinary partnership transactions

7This Part of this schedule applies to land transactions entered...

Responsibility of partners

8(1) Anything required or authorised to be done under this...

Representative partners

9(1) Anything required or authorised to be done by or...

Joint and several liability of responsible partners

10(1) Where the responsible partners are liable to make a...

PART 4Transactions involving transfer to a partnership

Overview of Part

11This Part of this schedule is arranged as follows— paragraphs...

Circumstances in which this Part applies

12(1) This Part of this schedule applies where—

Calculation of chargeable consideration etc.

13(1) The chargeable consideration for the land transfer is taken...

Sum of the lower proportions

14The sum of the lower proportions in relation to the...

15(1) For the purposes of paragraph 14 (see Step 1),...

Corresponding partner

16(1) For the purposes of paragraph 14 (see Step 2),...

Transfer of partnership interest pursuant to earlier arrangements

17(1) This paragraph applies where— (a) subsequent to the land...

Withdrawal of money etc. from partnership after transfer of chargeable interest

18(1) This paragraph applies where, during the period of 3...

PART 5Transactions involving transfer from a partnership

Overview of Part

19This Part of this schedule is arranged as follows— paragraphs...

Circumstances in which Part applies

20(1) This Part of this schedule applies where a chargeable...

Calculation of chargeable consideration

21(1) The chargeable consideration for the land transfer is (subject...

Sum of the lower proportions

22The sum of the lower proportions in relation to the...

23(1) For the purposes of paragraph 22 (see Step 1),...

Corresponding partner

24(1) For the purposes of paragraph 22 (see Step 2),...

Partnership share attributable to partner

25(1) This paragraph provides for determining the partnership share attributable...

26(1) Where this paragraph applies, the partnership share attributable to...

Transfer of chargeable interest from a partnership to a partnership

27(1) This paragraph applies where— (a) there is a transfer...

Transfer of chargeable interest from a partnership consisting wholly of bodies corporate

28(1) This paragraph applies where— (a) immediately before the land...

PART 6Application of Parts 3 to 5 to leases

Application of Parts 3 to 5 to leases

29(1) This paragraph applies in relation to a transaction to...

PART 7Property investment partnerships

Overview of Part

30This Part of this schedule is arranged as follows— paragraphs...

Meaning of “property investment partnership”

31(1) In this schedule, “ property-investment partnership ” means a...

Transfer of interest in partnership treated as land transaction

32(1) This paragraph applies where— (a) there is a transfer...

Exclusion of market rent leases

33(1) A lease held as partnership property immediately after a...

Partnership interests: application of provisions about exchanges etc.

34(1) Where paragraph 5 of schedule 2 (exchanges) applies to...

Election by property-investment partnership to disapply Part 4

35(1) Part 4 of this schedule does not apply to...

PART 8Application of provisions on exemptions, reliefs and notification

Overview of Part

36This Part of this schedule is arranged as follows— paragraph...

Application of exemptions and reliefs: general

37(1) Paragraph 1 of schedule 1 (exemption of transactions for...

Application of group relief

38(1) Schedule 10 (group relief) applies with the following modifications...

39(1) This paragraph applies where in calculating the sum of...

Application of charities relief

40(1) Schedule 13 (charities relief) applies to the transfer of...

Notification of transfers of partnership interests

41(1) A transaction which is a chargeable transaction by virtue...

PART 9Interpretation

42This Part of this schedule defines expressions used in this...

Partnership property

43Any reference to partnership property is to an interest or...

Partnership share

44Any reference to a person's partnership share at any time...

Transfer of chargeable interest

45References to the transfer of a chargeable interest include—

Transfer of chargeable interest to a partnership

46For the purposes of this schedule, there is a transfer...

Transfer of chargeable interest from a partnership

47For the purposes of this schedule, there is a transfer...

Transfer of interest in a partnership

48For the purposes of this schedule, where a person acquires...

Connected persons

49In the application of section 1122 of the Corporation Tax...

50“ Arrangements ” includes any scheme, agreement or understanding, whether...

SCHEDULE 18Trusts

1(1) This schedule makes provision about the application of this...

PART 2Treatment of trusts and beneficiaries generally

Interests of beneficiaries under certain trusts

2Paragraphs 3 and 4 apply where property is held in...

3The beneficiary is to be treated for the purpose of...

4An acquisition of the interest of a beneficiary under the...

PART 3Transactions involving bare trusts

Acquisition of chargeable interest by bare trustee

5Where a person (T) acquires a chargeable interest or an...

6However, any tax due by the person or persons may,...

7Paragraphs 5 and 6 do not apply in relation to...

Grant of lease to bare trustee

8Where a lease is granted to a person as bare...

Grant of lease by bare trustee

9Where a person, as bare trustee, grants a lease, the...

PART 4Transactions involving settlements

Acquisition by trustees of settlements

10Where persons, as trustees of a settlement, acquire a chargeable...

Consideration for exercise of power of appointment or discretion

11Paragraph 12 applies where a chargeable interest is acquired by...

12Any consideration given for the person in whose favour the...

Reallocation of trust property as between beneficiaries

13Paragraph 14 applies where— (a) the trustees of a settlement...

14The fact that the beneficiary gives consent does not mean...

PART 5Settlements: payment of tax and returns

Liability to pay the tax

15Where the trustees of a settlement are liable to pay...

Liability to make returns

16A return in relation to a land transaction may be...

Duty to make declaration

17The declaration required by section 36(1) or (2)(a) must be...

Responsible trustees

18The responsible trustees, in relation to a land transaction, are—...

PART 6Interpretation

Meaning of “bare trust”

19In this schedule, a “bare trust”— (a) is a trust...

Meaning of “absolutely entitled”

20The references in paragraph 19 to a person being absolutely...

Meaning of “settlement”

21In this schedule, “ settlement ” means a trust that...

SCHEDULE 19Leases

PART 1Introductory

1(1) This schedule makes provision about the application of this...

Calculation of tax chargeable where chargeable consideration includes rent

2Where the chargeable consideration for a chargeable transaction to which...

PART 2Amount of tax chargeable: rent

Tax rates and tax bands

3(1) The Scottish Ministers must, by order, specify the tax...

Amount of tax chargeable in respect of rent

4The amount of tax chargeable on so much of the...

Amount of tax chargeable in respect of rent: linked transactions

5Where a chargeable transaction to which this schedule applies is...

Net present value

6The net present value (NPV) of the rent payable over...

Temporal discount rate

7(1) For the purposes of this schedule the “temporal discount...

PART 3Amount of tax chargeable: consideration other than rent

Amount of tax chargeable in respect of consideration other than rent: general

8(1) Where in the case of a transaction to which...

Amount of tax chargeable in respect of consideration other than rent: nil rate tax band

9(1) This paragraph applies in the case of a transaction...

PART 4Review of tax chargeable

Regular review of tax chargeable

10(1) This paragraph applies where, in relation to a chargeable...

Review of tax chargeable on certain events

11(1) This paragraph applies where, in relation to a chargeable...

PART 5Chargeable consideration: rent and consideration other than rent

12(1) For the purposes of this Act, a single sum...

Variable or uncertain rent

13(1) This paragraph applies to determine the amount of rent...

Reverse premium

14(1) In the case of the grant, assignation or renunciation...

Tenant's obligations etc. that do not count as chargeable consideration

15(1) In the case of the grant of a lease...

Assignation of lease: assumption of obligations by assignee

16In the case of an assignation of a lease the...

Loan or deposit in connection with grant or assignation of lease

17(1) Where, under arrangements made in connection with the grant...

Renunciation of existing lease in return for new lease

18(1) Where a lease is granted in consideration of the...

PART 6Other provision about leases

Meaning of lease for a fixed term

19In the application of this schedule to a lease for...

Leases that continue after a fixed term

20(1) This paragraph applies to— (a) a lease for a...

Leases that continue after a fixed term: grant of new lease

21(1) This paragraph applies where— (a) (ignoring this paragraph) paragraph...

Treatment of leases for indefinite term

22(1) For the purposes of this Act (except section 30...

Treatment of successive linked leases

23(1) This paragraph applies where— (a) successive leases are granted...

Rent for overlap period in case of grant of further lease

24(1) This paragraph applies where— (a) A renounces an existing...

Agreement for lease substantially performed etc.

25(1) Where— (a) there is an agreement (including missives not...

Missives of let followed by execution of formal lease

26(1) Where a lease is constituted by concluded missives of...

Cases where assignation of lease treated as grant of lease

27(1) This paragraph applies where the grant of a lease...

Assignation of lease: responsibility of assignee for returns etc.

28(1) Where a lease is assigned, anything that but for...

Reduction of rent or term or other variation of lease

29(1) Where a lease is varied so as to reduce...

Increase of rent or term: notification

30(1) This paragraph applies where, in relation to a land...

SCHEDULE 20Index of defined expressions

Royal arms

Land and Buildings Transaction Tax (Scotland) Act 2013

2013 asp 11

The Bill for this Act of the Scottish Parliament was passed by the Parliament on 25th June 2013 and received Royal Assent on 31st July 2013

An Act of the Scottish Parliament to make provision about the taxation of land transactions.