Land and Buildings Transaction Tax (Scotland) Act 2013

34 Return or further return in consequence of later linked transaction S

(1) This section applies where the effect of a transaction (“the later transaction”) that is linked to an earlier transaction is that—

(a) the earlier transaction becomes notifiable,

(b) additional tax is payable in respect of the earlier transaction, or

(c) tax is payable in respect of the earlier transaction where none was payable before.

(2) The buyer in the earlier transaction must make a return (or further return) in respect of that transaction.

(3) The return must be made before the end of the period of 30 days beginning with the day after the effective date of the later transaction.

(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 as a result of the later transaction.

(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 earlier transaction.

(6) This section does not affect any requirement to make a land transaction return in respect of the later transaction.

Commencement Information

I1 S. 34 in force at 1.4.2015 by S.S.I. 2015/108, art. 2