- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (01/04/2015)
- Gwreiddiol (Fel y'i Deddfwyd)
Point in time view as at 01/04/2015.
There are currently no known outstanding effects for the Land and Buildings Transaction Tax (Scotland) Act 2013, Paragraph
10
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10 (1)This paragraph applies where, in relation to a chargeable transaction to which this schedule applies—S
(a)the buyer made a land transaction return, or
(b)where such a return was not made, the buyer made—
(i)a return under section 31 (return where contingency ceases or consideration ascertained),
(ii)a return under paragraph 20 (return where lease for fixed term continues after end of term),
(iii)a return under paragraph 22 (return in relation to lease for indefinite term), or
(iv)a return under paragraph 30 (return where transaction becomes notifiable on variation of rent or term).
(2)The buyer must make a further return to the Tax Authority if, on a review date, the lease—
(a)has not been assigned, or
(b)has not terminated (whether on the term of the lease coming to an end or otherwise).
(3)The return must be made before the end of the period of 30 days beginning with the day after the review date.
(4)The return must include an assessment of the amount of tax that, on the basis of the information contained in the return, is chargeable in respect of the transaction at that review date.
(5)The tax so chargeable is to be calculated by reference to the tax rates and tax bands in force at the effective date of the transaction.
(6)Where less tax is payable in respect of the transaction than has already been paid, the overpayment is to be repaid by the Tax Authority.
(7)In this paragraph, the “review date” is—
(a)in the case of a transaction to which sub-paragraph (1)(a) applies, the day falling on the third anniversary of the effective date of the transaction and on each subsequent third anniversary of that date,
(b)where the return mentioned in sub-paragraph (1)(b)(i) is the first return made in relation to the transaction, the day falling on the third anniversary of the date on which the event mentioned in section 31(2) occurred,
(c)where the return mentioned in sub-paragraph (1)(b)(ii) is the first return made in relation to the transaction, the day falling on the third anniversary of the date on which the 1 year period mentioned in paragraph 20(3) ended and on each subsequent third anniversary of that date,
(d)where the return mentioned in sub-paragraph (1)(b)(iii) is the first return made in relation to the transaction, the day falling on the third anniversary of the date on which the deemed fixed term mentioned in paragraph 22(2) ended and on each subsequent third anniversary of that date,
(e)where the return mentioned in sub-paragraph (1)(b)(iv) is the first return made in relation to the transaction, the day falling on the third anniversary of the date the variation mentioned in paragraph 30 takes effect and on each subsequent third anniversary of that date.
Commencement Information
I1 Sch. 19 para. 10 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2
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