Amount of tax chargeableS
24Tax rates and tax bandsS
(1)The Scottish Ministers must, by order, specify the tax bands and the percentage tax rates for each band—
(a)for residential property transactions, and
(b)for non-residential property transactions.
(2)An order under subsection (1) must specify, in the case of each type of transaction—
(a)a nil rate tax band and at least two other tax bands,
(b)the tax rate for the nil rate tax band, which must be 0%, and
(c)the tax rate for each tax band above the nil rate tax band so that the rate for each band is higher than the rate for the band below it.
(3)A transaction is a residential property transaction if—
(a)the main subject-matter of the transaction consists entirely of an interest in land that is residential property, or
(b)where the transaction is one of a number of linked transactions, the main subject-matter of each transaction consists entirely of such an interest.
(4)A transaction is a non-residential property transaction if—
(a)the main subject-matter of the transaction consists of or includes an interest in land that is not residential property, or
(b)where the transaction is one of a number of linked transactions, the main subject-matter of any transaction consists of or includes such an interest.
(5)In the case of a transaction for which the whole or part of the chargeable consideration is rent, see paragraph 3 of schedule 19 (leases) for the tax rates and tax bands applicable to such consideration.
Commencement Information
I1S. 24 in force at 7.11.2014 by S.S.I. 2014/279, art. 2, Sch.
25Amount of tax chargeableS
(1)The amount of tax chargeable in respect of a chargeable transaction is to be determined as follows.
Step 1 For each tax band applicable to the type of transaction, multiply so much of the chargeable consideration for the transaction as falls within the band by the tax rate for that band.
Step 2 Calculate the sum of the amounts reached under Step 1. The result is the amount of tax chargeable.
(2)In the case of a transaction for which the whole or part of the chargeable consideration is rent this section has effect subject to schedule 19 (leases).
(3)This section is subject to—
[F1(za) schedule 2A (additional amount: transactions relating to second homes etc. ), ]
(a)schedule 5 (multiple dwellings relief),
(b)schedule 9 (crofting community right to buy relief),
[F2(ba)schedule 10A (sub-sale development relief),]
(c)Part 3 of schedule 11 (acquisition relief).
Textual Amendments
F1S. 25(3)(za) inserted (1.4.2016) by Land and Buildings Transaction Tax (Amendment) (Scotland) Act 2016 (asp 11), ss. 2(1)(a), 5(2) (with s. 3)
F2S. 25(3)(ba) inserted (1.4.2015) by The Land and Buildings Transaction Tax (Sub-sale Development Relief and Multiple Dwellings Relief) (Scotland) Order 2015 (S.S.I. 2015/123), arts. 1(1), 2
Commencement Information
I2S. 25 in force at 1.4.2015 by S.S.I. 2015/108, art. 2
26Amount of tax chargeable: linked transactionsS
(1)Where a chargeable transaction is one of a number of linked transactions, the amount of tax chargeable in respect of the transaction is to be determined as follows.
Step 1 For each tax band applicable to the type of transaction, multiply so much of the relevant consideration as falls within the band by the tax rate for that band.
Step 2 Calculate the sum of the amounts reached under Step 1. The result is the total tax chargeable.
Step 3 Divide the chargeable consideration for the transaction by the relevant consideration.
Step 4 Multiply the total tax chargeable by the fraction reached under Step 3. The result is the amount of tax chargeable.
(2)The relevant consideration is the total of the chargeable consideration for all the linked transactions.
(3)In the case of a transaction for which the whole or part of the chargeable consideration is rent this section has effect subject to schedule 19 (leases).
(4)This section is subject to—
[F3(za) schedule 2A (additional amount: transactions relating to second homes etc. ), ]
(a)schedule 5 (multiple dwellings relief),
(b)schedule 9 (crofting community right to buy relief),
(c)Part 3 of schedule 11 (acquisition relief).
Textual Amendments
F3S. 26(4)(za) inserted (1.4.2016) by Land and Buildings Transaction Tax (Amendment) (Scotland) Act 2016 (asp 11), ss. 2(1)(b), 5(2) (with s. 3)
Commencement Information
I3S. 26 in force at 1.4.2015 by S.S.I. 2015/108, art. 2
[F426AAdditional amount: transactions relating to second homes etc.S
Schedule 2A makes provision about an additional amount of tax chargeable in respect of certain chargeable transactions.]