The Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Amendment (No. 2) (Coronavirus) Order 2020

Scottish Statutory Instruments

2020 No. 215

Land And Buildings Transaction Tax

The Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Amendment (No. 2) (Coronavirus) Order 2020

Approved by the Scottish Parliament

Made

14th July 2020

Coming into force

15th July 2020

Laid before the Scottish Parliament

15th July 2020

The Scottish Ministers make the following Order in exercise of the powers conferred by section 24(1) of the Land and Buildings Transaction Tax (Scotland) Act 2013(1) and all other powers enabling them to do so.

Citation, commencement, application and interpretation

1.—(1) This Order may be cited as the Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Amendment (No. 2) (Coronavirus) Order 2020 and comes into force on 15 July 2020.

(2) This Order has effect in relation to land transactions in relation to which the effective date is on or after the coming into force of this Order.

(3) In this Order, “the Order” means the Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Order 2015(2).

Temporary amendment of the Order

2.—(1) From the coming into force of this Order until the end of the day of 31 March 2021, the Order applies in accordance with the modifications set out in this article.

(2) In Table A: Residential of the schedule of the Order—

(a) in the second row (nil rate band), in the second column for “£145,000” substitute “£250,000”,

(b) omit the third row (first tax band),

(c) in the fourth row (second tax band), in the first column for “second” substitute “first”,

(d) in the fifth row (third tax band), in the first column for “third” substitute “second”,

(e) in the sixth row (fourth tax band), in the first column for “fourth” substitute “third”.

BEN MACPHERSON

Authorised to sign by the Scottish Ministers

St Andrew’s House,

Edinburgh

14th July 2020

EXPLANATORY NOTE

(This note is not part of the Order)

This Order amends the Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Order 2015 on a temporary basis to increase the nil rate band. The increase eliminates the existing first tax band, which is omitted. Accordingly, the second, third and fourth tax bands are renumbered first, second and third tax bands.

(1)

2013 asp 11.

(2)

S.S.I. 2015/126, as amended by S.S.I. 2018/372 and S.S.I. 2020/24.