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[F1SCHEDULE 2ASADDITIONAL AMOUNT: TRANSACTIONS RELATING TO SECOND HOMES ETC.

Textual Amendments

PART 5SREPAYMENT OF AND RELIEF FROM THE ADDITIONAL AMOUNT

Repayment of additional amount in certain casesS

8(1)Sub-paragraph (2) applies in relation to a chargeable transaction to which this schedule applies by virtue of paragraph 2 if—S

(a)within the period of [F236] months beginning with [F3or ending with] the effective date of the transaction, the buyer [F4or, where there are two or more buyers who are or will be jointly entitled to the interest acquired, one of the buyers] disposes of the ownership of a dwelling (other than one that was or formed part of the subject-matter of the chargeable transaction),

(b)that dwelling was the buyer's [F5or, where there are two or more buyers who are or will be jointly entitled to the interest acquired, one of the buyers’] only or main residence at any time during the period of [F636] months ending with the effective date of the transaction, F7...

(c)the dwelling that was or formed part of the subject-matter of the transaction has been occupied as the [F8buyer’s or, where there are two or more buyers who are or will be jointly entitled to the interest acquired, all of the buyers’ only or main residence, and]

[F9(d)where there are two or more buyers who are or will be jointly entitled to the interest acquired, each of whom own a dwelling or dwellings other than the subject-matter of the transaction, all of the buyers must meet the conditions specified in this sub-paragraph.]

(2)Where this sub-paragraph applies—

(a)the chargeable transaction is to be treated as having been exempt from the additional amount, and

(b)if the buyer has made a land transaction return in respect of the transaction, the buyer may take one of the steps mentioned in sub-paragraph (3).

(3)The steps are—

(a)within the period allowed for amendment of the land transaction return, amend the return accordingly, or

(b)after the end of that period (if the land transaction return is not so amended), make a claim to the Tax Authority under section 107 of the Revenue Scotland and Tax Powers Act 2014 for repayment of the amount overpaid.

(4)For the period allowed for amendment of returns, see section 83 of the Revenue Scotland and Tax Powers Act 2014.

(5)In the case of a chargeable transaction to which this schedule applies by virtue of paragraph 2(1)(d)(ii), sub-paragraph (2)(a) has effect only in relation to the additional amount applicable to so much of the relevant consideration for the transaction as is attributable, on a just and reasonable apportionment, to the acquisition of ownership of the dwelling (including any interest or right pertaining to ownership of the dwelling) referred to in sub-paragraph (1)(c).]

Textual Amendments