Land and Buildings Transaction Tax (Scotland) Act 2013 (asp 11)

SCHEDULE 5 S Multiple dwellings relief

PART 4 S The relief

Calculation of relief S

10 S The amount of tax chargeable in relation to a relevant transaction [F1 other than one to which schedule 2A applies] is—

where—

DT is the tax due in relation to a dwelling,

ND is the number of dwellings that are, or are part of, the main subject-matter of the transaction, and

RT is the tax due in relation to remaining property.

Textual Amendments

F1 Words in sch. 5 para. 10 inserted (1.4.2016) by Land and Buildings Transaction Tax (Amendment) (Scotland) Act 2016 (asp 11), ss. 2(1)(d)(i), 5(2) (with s. 3)

Commencement Information

I1 Sch. 5 para. 10 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

[F2 10A S The amount of tax chargeable in relation to a relevant transaction to which schedule 2A applies is—

where—

DT is the tax due in relation to each dwelling that is, or is part of, the main subject-matter of the transaction, and

RT is the tax due in relation to the remaining property.]

Textual Amendments

F2 Sch. 5 para. 10A inserted (1.4.2016) by Land and Buildings Transaction Tax (Amendment) (Scotland) Act 2016 (asp 11), ss. 2(1)(d)(ii), 5(2) (with s. 3)

[F3 11 . S But where DT x ND [F4 or, as the case may be, ΣDT] is less than the minimum prescribed amount, the amount of tax chargeable in relation to the relevant transaction is—

where—

• MPA is the minimum prescribed amount, and

• RT is the tax due in relation to remaining property.

Textual Amendments

F3 Sch. 5 paras. 11, 12 substituted (1.4.2015) by S.S.I. 2015/123, arts. 1, 8

F4 Words in sch. 5 para. 11 inserted (1.4.2016) by Land and Buildings Transaction Tax (Amendment) (Scotland) Act 2016 (asp 11), ss. 2(1)(d)(iii), 5(2) (with s. 3)

Commencement Information

I2 Sch. 5 para. 11 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

12 . S The minimum prescribed amount is such proportion as may be prescribed by the Scottish Ministers by order of—

where—

• TT is the amount of tax that would be due in respect of the transaction but for this schedule, and

• RT is the tax due in relation to remaining property.]

Textual Amendments

F3 Sch. 5 paras. 11, 12 substituted (1.4.2015) by S.S.I. 2015/123, arts. 1, 8

Commencement Information

I3 Sch. 5 para. 12 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2