PART 3Calculation of tax and reliefs

Reliefs

27Reliefs

(1)

The following schedules provide for reliefs from the tax in relation to certain land transactions—

  • schedule 3 (sale and leaseback relief),

  • schedule 4 (relief for certain acquisitions of residential property),

  • schedule 5 (multiple dwellings relief),

  • schedule 6 (relief for certain acquisitions by registered social landlords),

  • schedule 7 (alternative property finance relief),

  • schedule 8 (relief for alternative finance investment bonds),

  • schedule 9 (crofting community right to buy relief),

  • schedule 10 (group relief),

  • schedule 11 (reconstruction relief and acquisition relief),

  • schedule 12 (relief for incorporation of limited liability partnership),

  • schedule 13 (charities relief),

  • schedule 14 (relief for certain compulsory purchases),

  • schedule 15 (relief for compliance with planning obligations),

  • schedule 16 (public bodies relief).

(2)

Any relief under any of those schedules must be claimed in the first return made in relation to the transaction or in an amendment of that return.

(3)

The Scottish Ministers may, by order, modify this Act so as to—

(a)

add a relief,

(b)

modify an existing relief, or

(c)

remove a relief.

(4)

An order under subsection (3) may also modify any other enactment that the Scottish Ministers consider appropriate.