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

[F1 SCHEDULE 2A S ADDITIONAL AMOUNT: TRANSACTIONS RELATING TO SECOND HOMES ETC.

Textual Amendments

F1 Sch. 2A inserted (1.4.2016) by Land and Buildings Transaction Tax (Amendment) (Scotland) Act 2016 (asp 11), ss. 1(3), 5(2) (with s. 3)

PART 6 S OWNERSHIP OF DWELLINGS

Deemed ownership: joint owners and owners of shares S

17 (1) This paragraph applies where two or more persons are jointly entitled to the ownership of a dwelling. S

(2) For the purposes of this schedule, each of the persons is to be treated as the owner of the dwelling [F2 , but if the market value of the share in the ownership interest of the dwelling of any of the persons is less than £40,000, that share is not to be counted for the purposes of determining whether this schedule applies to a transaction under paragraph 2 of this schedule].

(3) In the application of this paragraph to a dwelling situated in England, Wales or Northern Ireland, “jointly entitled” has the meaning given in section 121 of the Finance Act 2003 (minor definitions).

(4) In the application of this paragraph to a dwelling situated outside the United Kingdom, “jointly entitled” means having an interest equivalent to being jointly entitled within the meaning of this Act or the Finance Act 2003.]

Textual Amendments

F2 Words in sch. 2A para. 17(2) inserted (1.4.2024) by The Land and Buildings Transaction Tax (Miscellaneous Amendments) (Scotland) Order 2024 (S.S.I. 2024/104), arts. 1, 9