Land and Buildings Transaction Tax (Scotland) Act 2013
PART 1Land and buildings transaction tax
1The tax
2Overview
PART 2Key concepts
CHAPTER 1Land transactions and chargeable interests
Land transaction
3Land transaction
Chargeable interest
4Chargeable interest
5Exempt interest
Acquisition and disposal of chargeable interest
6Acquisition and disposal of chargeable interest
7Buyer and seller
CHAPTER 2Provision about particular transactions
General rules for contracts requiring conveyance
8Contract and conveyance
9Completion without substantial performance
10Substantial performance without completion
Contract providing for conveyance to third party
11Contract providing for conveyance to third party
Options etc.
12Options and rights of pre-emption
Exchanges
13Exchanges
Interpretation
14Meaning of “substantial performance”
CHAPTER 3Chargeable transactions and chargeable consideration
Chargeable transaction
15Chargeable transaction
16Exempt transaction
Chargeable consideration
17Chargeable consideration
Contingent, uncertain or unascertained consideration
18Contingent consideration
19Uncertain or unascertained consideration
20Contingent, uncertain or unascertained consideration: further provision
Annuities etc.
21Annuities etc.: chargeable consideration limited to 12 years' payments
Deemed market value
22Deemed market value where transaction involves connected company
23Exceptions from deemed market value
PART 3Calculation of tax and reliefs
Amount of tax chargeable
24Tax rates and tax bands
25Amount of tax chargeable
26Amount of tax chargeable: linked transactions
26AAdditional amount: transactions relating to second homes etc.
Reliefs
27Reliefs
Liability for tax
28Liability for tax
PART 4Returns and payment
CHAPTER 1Returns
Duty to make return
29Duty to make return
Notifiable transactions
30Notifiable transactions
Adjustments and further returns
31Return where contingency ceases or consideration ascertained
32Contingency ceases or consideration ascertained: less tax payable
33Further return where relief withdrawn
34Return or further return in consequence of later linked transaction
Returns: form and content etc.
35Form and content
36Declaration
37Amendment
37ACommunications from taxpayers to the Tax Authority
Miscellaneous
38Interpretation
39Power to amend period in which returns must be made
CHAPTER 2Payment of tax
40Payment of tax
41Application to defer payment in case of contingent or uncertain consideration
42Regulations about applications under section 41
CHAPTER 3Registration of land transactions etc.
43Return to be made and tax paid before application for registration
PART 5Application of act to certain persons and bodies
44Companies and other organisations
45Unit trust schemes
46Open-ended investment companies
47Residential property holding companies
48Joint buyers
49Partnerships
50Trusts
51Persons acting in a representative capacity etc.
PART 6Application of Act to leases and licences
Leases
52Application of this Act to leases
Licences
53Application of this Act to licences
PART 7General and interpretation
The Tax Authority
54The Tax Authority
55Delegation of functions to Keeper
56Review and appeal
Linked transactions
57Linked transactions
Connected persons
58Connected persons
Interpretation
59Meaning of “residential property”
60Meaning of “major interest” in land
61Meaning of “subject-matter” and “main subject-matter”
62Meaning of “market value”
63Meaning of “effective date” of a transaction
64Meaning of “completion”
65General interpretation
66Index of defined expressions
PART 8Final provisions
Ancillary provision
67Ancillary provision
Subordinate legislation
68Subordinate legislation
Crown application
69Crown application
Commencement and short title
70Commencement
71Short title
SCHEDULE 1Exempt transactions
No chargeable consideration
1A land transaction is an exempt transaction if there is...
Acquisitions by the Crown
2A land transaction under which the buyer is any of...
Residential leases and licences
3(1) The grant, assignation or renunciation of—
Transactions in connection with divorce etc.
4A transaction between one party to a marriage and the...
Transactions in connection with dissolution of civil partnership etc.
5A transaction between one party to a civil partnership and...
Assents and appropriations by personal representatives
6(1) The acquisition of property by a person in or...
Variation of testamentary dispositions etc.
7(1) A transaction following a person's death that varies a...
Power to add, vary or remove exemptions
8The Scottish Ministers may, by regulations, modify this schedule so...
SCHEDULE 2Chargeable consideration
Money or money's worth
1The chargeable consideration for a transaction is, except as otherwise...
Value added tax
2The chargeable consideration for a transaction includes any value added...
Postponed consideration
3The amount or value of the chargeable consideration for a...
Just and reasonable apportionment
4(1) For the purposes of this Act consideration attributable—
Exchanges
5(1) This paragraph applies to determine the chargeable consideration where...
Partition etc.: disregard of existing interest
6In the case of a land transaction giving effect to...
Valuation of non-monetary consideration
7Except as otherwise expressly provided, the value of any chargeable...
Debt as consideration
8(1) Where the chargeable consideration for a land transaction consists...
Cases where conditions for exemption not fully met
9(1) Where a land transaction would be an exempt transaction...
Conversion of amounts in foreign currency
10(1) References in this Act to the amount or value...
Carrying out of works
11(1) Where the whole or part of the consideration for...
Provision of services
12(1) Where the whole or part of the consideration for...
Land transaction entered into by reason of employment
13Where a land transaction is entered into by reason of...
Indemnity given by buyer
14Where the buyer agrees to indemnify the seller in respect...
Buyer bearing inheritance tax liability
15Where— (a) there is a land transaction that is—
Buyer bearing capital gains tax liability
16(1) Where— (a) there is a land transaction under which...
Arrangements involving public or educational bodies
17(1) This paragraph applies in any case where arrangements are...
SCHEDULE 2AADDITIONAL AMOUNT: TRANSACTIONS RELATING TO SECOND HOMES ETC.
PART 1OVERVIEW
Overview
1(1) This schedule makes provision about an additional amount of...
PART 2TRANSACTIONS TO WHICH THIS SCHEDULE APPLIES
Transactions relating to second homes etc.
2(1) This schedule applies to a chargeable transaction if the...
Transactions where buyer is a non-individual etc.
3(1) This schedule applies to a chargeable transaction if the...
PART 3THE ADDITIONAL AMOUNT
Additional amount
4(1) Where this schedule applies to a chargeable transaction, the...
PART 4CERTAIN TYPES OF BUYER
Joint buyers
5(1) This paragraph applies to a chargeable transaction which satisfies...
Spouses, civil partners, cohabitants and children
6(1) For the purposes of paragraph 2(1)(c), a dwelling which...
Trustees in certain trusts
7(1) This paragraph applies to a chargeable transaction which satisfies...
PART 5REPAYMENT OF AND RELIEF FROM THE ADDITIONAL AMOUNT
Repayment of additional amount in certain cases
8(1) Sub-paragraph (2) applies in relation to a chargeable transaction...
Repayment of additional amount: spouses, civil partners and cohabitants replacing main residence
8A(1) Sub-paragraph (2) applies in relation to a chargeable transaction...
Repayment of additional amount: period for disposing of ownership of dwelling
8B(1) Sub-paragraph (2) applies in relation to a chargeable transaction...
Relief for purchases of 6 or more dwellings
9A chargeable transaction is exempt from the additional amount if...
Relief for spouses, civil partners and cohabitants replacing main residence
9A(1) A chargeable transaction to which this schedule applies by...
Relief: supplemental
10(1) A relief under paragraph 9 must be claimed in...
PART 6OWNERSHIP OF DWELLINGS
What counts as a dwelling owned by a person?
11(1) This paragraph applies to determine what counts as a...
Deemed ownership: cases where title is not yet registered etc.
12(1) This paragraph applies to determine, for the purposes of...
Deemed ownership: beneficiaries under certain trusts
13(1) This paragraph applies where a person is the beneficiary...
Dwellings owned by trustees or personal representatives
14(1) This paragraph applies where a person owns a dwelling...
Deemed ownership: long leases
15(1) This paragraph applies where a person (“the tenant”) is...
Deemed ownership: proper liferents
16(1) This paragraph applies where a person (“the liferenter”) holds...
Deemed ownership: joint owners and owners of shares
17(1) This paragraph applies where two or more persons are...
Dwellings outside Scotland: what counts as “ownership”
18(1) In the case of a dwelling situated outside Scotland,...
PART 7GENERAL PROVISION
Power of Scottish Ministers to modify schedule
19(1) The Scottish Ministers may by order amend paragraph 4(2)...
Interpretation
20(1) In this schedule— “ bare trust ” has the...
SCHEDULE 3Sale and leaseback relief
The relief
1The leaseback element of a sale and leaseback arrangement is...
Sale and leaseback arrangements
2A sale and leaseback arrangement is an arrangement under which—...
Qualifying conditions
3The qualifying conditions are— (a) that the sale transaction is...
Interpretation
4In this schedule, “debt” has the same meaning as in...
SCHEDULE 4Relief for certain acquisitions of residential property
PART 1Introductory
Overview of reliefs
1(1) This schedule provides for relief in the case of...
PART 2Acquisition by house-building company from individual acquiring new dwelling
Full relief
2Where a dwelling (“the old dwelling”) is acquired by a...
Partial relief
3Where qualifying conditions (a) to (d) but not (e) are...
Qualifying conditions
4In this Part of this schedule, the qualifying conditions are—...
PART 3Acquisition by property trader from individual acquiring new dwelling
Full relief
5Where a dwelling (“the old dwelling”) is acquired by a...
Partial relief
6Where qualifying conditions (a) to (e) but not (f) are...
Qualifying conditions
7In this Part of this schedule, the qualifying conditions are—...
8Paragraph 7(e)(ii) does not apply to the grant of a...
PART 4Acquisition by property trader from individual where chain of transactions breaks down
Full relief
9Where a dwelling (“the old dwelling”) is acquired by a...
Partial relief
10Where qualifying conditions (a) to (g) but not (h) are...
Qualifying conditions
11In this Part of this schedule, the qualifying conditions are—...
12Paragraph 11(g)(ii) does not apply to the grant of a...
PART 5Withdrawal of relief
Introductory
13(1) Relief under this schedule is withdrawn in the following...
Relief under Part 3
14Relief under Part 3 of this schedule (acquisition by property...
15Paragraph 14(b) does not apply to the grant of a...
Relief under Part 4
16Relief under Part 4 of this schedule (acquisition by property...
17Paragraph 16(b) does not apply to the grant of a...
PART 6Interpretation
Meaning of “dwelling” and “new dwelling”
18“Dwelling” includes land occupied and enjoyed with the dwelling as...
19A building or part of a building is a “new...
Meaning of “permitted area”
20“The permitted area”, in relation to a dwelling, means land...
21Where paragraph 20(b) applies, the permitted area is taken to...
Meaning of “acquisition” and “market value” in relation to dwelling and permitted area
22References in this schedule to— (a) the acquisition of a...
Meaning of “house-building company”
23A “house-building company” means a company that carries on the...
24References in this schedule to such a company include any...
Meaning of “property trader” and “principal”
25(1) A “property trader” means an entity listed in sub-paragraph...
26For the purposes of this schedule— (a) anything done by...
Additional amount: transactions relating to second homes etc.
26ASchedule 2A makes provision about an additional amount of tax...
Meaning of “refurbishment” and “the permitted amount”
27“Refurbishment” of a dwelling means the carrying out of works...
28The “permitted amount”, in relation to the refurbishment of a...
SCHEDULE 4AFirst-time buyer relief
1Eligibility for relief
2Meaning of first-time buyer
3Relief from the tax
4Eligibility for relief: alternative finance arrangements
5Deemed ownership: beneficiaries under certain trusts
6Dwellings owned by trustees or personal representatives
7Interpretation
SCHEDULE 5Multiple dwellings relief
PART 1Introductory
Overview of relief
1(1) This schedule provides for relief in the case of...
PART 2Transactions to which this schedule applies
The rule
2This schedule applies to relevant transactions.
3A relevant transaction is a transaction (other than a transaction...
Single transaction relating to multiple dwellings
4A transaction is within this paragraph if its main subject-matter...
Linked transactions relating to multiple dwellings
5A transaction is within this paragraph if—
Excluded transactions
6A transaction is excluded by this paragraph if—
PART 3Key terms
Consideration attributable to dwellings and remaining property
7In relation to a relevant transaction— (a) the consideration attributable...
Dwellings
8“The dwellings” are, in relation to a relevant transaction, the...
Interest in a dwelling
9A reference in this schedule to an interest in a...
PART 4The relief
Calculation of relief
10The amount of tax chargeable in relation to a relevant...
10AThe amount of tax chargeable in relation to a relevant...
11But where DT x ND or, as the case may...
12The minimum prescribed amount is such proportion as may be...
Tax due in relation to a dwelling
13The tax due in relation to a dwelling is determined...
Tax due in relation to remaining property
14The tax due in relation to remaining property is determined...
General
15“Attributable” means attributable on a just and reasonable basis.
PART 5Withdrawal of relief
Full withdrawal of relief
16Relief under this schedule is withdrawn in relation to a...
17Where relief is withdrawn, the amount of tax chargeable is...
Partial withdrawal of relief
18Relief under this schedule is partially withdrawn in relation to...
19Where relief is partially withdrawn, tax is chargeable on the...
20In that case, the tax so chargeable must be calculated...
Relevant period
21“The relevant period” means the shorter of—
22In relation to a transaction effected on completion of a...
Interpretation
23In this Part of this schedule, “event” includes any change...
PART 6What counts as a dwelling
24This Part of this schedule sets out rules for determining...
25A building or part of a building counts as a...
26Land that is, or is to be, occupied or enjoyed...
27Land that subsists, or is to subsist, for the benefit...
28The main subject-matter of a transaction is also taken to...
29In paragraph 28, “relevant deeming provision” means section 10 or...
30Subsections (3) to (6) of section 59 apply for the...
SCHEDULE 6Relief for certain acquisitions by registered social landlords
The relief
1A land transaction under which the buyer is a registered...
The qualifying conditions
2The qualifying conditions are— (a) that the registered social landlord...
Landlord controlled by tenants
3The reference in paragraph 2(a) to a registered social landlord...
4For the purposes of paragraph 3, “board member” is to...
SCHEDULE 7Alternative property finance relief
PART 1Introductory
Overview
1(1) This schedule makes provision for relief in the case...
PART 2Alternative property finance: arrangements relieved
Land sold to financial institution and leased to person
2Paragraphs 3 to 6 apply where arrangements are entered into...
3The first transaction is exempt from charge if the seller...
4The second transaction is exempt from charge if the provisions...
5A transfer to the person that results from the exercise...
6The agreement mentioned in paragraph 2(c) is not to be...
Land sold to financial institution and person in common
7Paragraphs 8 to 12 apply where arrangements are entered into...
8The first transaction is exempt from charge if the seller...
9The second transaction is exempt from charge if the provisions...
10Any transfer to the person that results from the exercise...
11The agreement mentioned in paragraph 7(c) is not to be...
12A further transaction that is exempt from charge by virtue...
Land sold to financial institution and re-sold to person
13Paragraphs 14 and 15 apply where arrangements are entered into...
14The first transaction is exempt from charge if the seller...
15The second transaction is exempt from charge if the financial...
PART 3Alternative property finance: arrangements not relieved
No relief where first transaction already relieved
16Paragraphs 2 to 12 do not apply to arrangements in...
No relief where arrangements to transfer control of financial institution
17Paragraphs 2 to 12 do not apply to alternative finance...
18That includes arrangements for a person to acquire control of...
19In paragraphs 17 and 18— “alternative finance arrangements” means the...
20Section 1124 of the Corporation Tax Act 2010 (c.4) applies...
PART 4Exempt interest
Interest held by financial institution an exempt interest
21An interest held by a financial institution as a result...
22That interest ceases to be an exempt interest if—
23Paragraph 21 does not apply if the first transaction is...
24Paragraph 21 does not make an interest exempt in respect...
PART 5Interpretation
Interpretation
25(1) In this schedule “financial institution” has the meaning given...
26In this schedule— “arrangements” includes any agreement, understanding, scheme, transaction...
SCHEDULE 8Relief for alternative finance investment bonds
PART 1Overview and interpretation
Overview of relief
1(1) This schedule makes provision for relief in the case...
Meaning of “alternative finance investment bond”
2In this schedule, “alternative finance investment bond” means arrangements to...
Interpretation
3In this schedule— “bond assets”, “bond-holder”, “bond-issuer” and “capital” have...
PART 2Issue, transfer and redemption of rights under bond not to be treated as chargeable transaction
The relief
4For the purposes of this Act— (a) the bond-holder under...
Relief not available where bond-holder acquires control of underlying asset
5(1) Paragraph 4 does not apply if control of the...
6(1) But paragraph 5(1) does not apply (and accordingly, section...
PART 3General conditions for operation of reliefs etc.
Introduction
7This Part of this schedule defines conditions A to G...
Condition A
8Condition A is that one person (P) and another (Q)...
Condition B
9Condition B is that— (a) Q, as bond-issuer, enters into...
Condition C
10(1) Condition C is that, for the purpose of generating...
Condition D
11(1) Condition D is that, before the end of the...
Condition E
12Condition E is that the total of the payments of...
Condition F
13Condition F is that Q holds the interest in land...
Condition G
14(1) Condition G is that— (a) before the end of...
PART 4Relief for certain transactions
The relief: first transaction
15(1) The first transaction is exempt from charge if—
Withdrawal of relief
16(1) Relief under paragraph 15 is withdrawn if—
Amount of tax chargeable where relief withdrawn
17Where relief is withdrawn, the amount of tax chargeable is...
18The amount chargeable is the tax that would have been...
Relief from land and buildings transaction tax: second transaction
19(1) The second transaction is exempt from charge if—
Discharge of security when conditions for relief met
20If, after the effective date of the second transaction, Q...
PART 5Supplementary
Substitution of asset
21(1) This paragraphs applies if— (a) conditions A to C...
22(1) Paragraph 21 also applies where the replacement land is...
Tax Authority to register discharge of security
23(1) Where a security is discharged in accordance with paragraph...
Relief not available where bond-holder acquires control of underlying asset
24(1) The reliefs provided by paragraphs 15 and 19 (and...
25(1) But paragraph 24 does not prevent the reliefs being...
Relief not available if purpose of arrangements is improper
26The reliefs provided by paragraph 15 and 19 (and paragraph...
SCHEDULE 9Crofting community right to buy relief
The relief
1 The relief
Interpretation
4In this schedule “crofting community right to buy” means the...
SCHEDULE 10Group relief
PART 1Introductory
Overview
1(1) This schedule provides for relief for certain transactions involving...
PART 2The relief
The relief
2A land transaction is exempt from charge if the seller...
Restrictions on availability of relief
3Relief under this schedule is not available if at the...
4Paragraph 3 does not apply to arrangements to which paragraph...
5Relief under this schedule is not available if the transaction...
6Arrangements are within paragraph 5(a) if under them the seller...
7Paragraph 5(b) does not apply to arrangements to which paragraph...
8Relief under this schedule is not available if the transaction—...
Arrangements that do not restrict availability of relief
9This paragraph applies to arrangements entered into with a view...
10This paragraph applies to arrangements in so far as they...
10A(1) This paragraph applies to arrangements if and for so...
Interpretation
11In this Part of this schedule— “control” has the meaning...
PART 3Withdrawal of relief
Overview
12This Part of this schedule is arranged as follows— paragraphs...
Withdrawal of relief
13Relief under this schedule is withdrawn or partially withdrawn where—...
14This paragraph applies where the buyer in the transaction which...
15This paragraph applies where, at the time the buyer ceases...
15AThis paragraph applies where— (a) the relief under this schedule...
Amount of tax chargeable where relief withdrawn
16Where relief is withdrawn, the amount of tax chargeable is...
17The amount chargeable is the tax that would have been...
Amount of tax chargeable where relief partially withdrawn
18Where relief is partially withdrawn, the amount of tax chargeable...
19An “appropriate proportion” means an appropriate proportion having regard to—...
Case where relief not withdrawn: winding up
20Relief under this schedule is not withdrawn where the buyer...
Cases where relief not withdrawn: stamp duty reliefs
21Relief under this schedule is not withdrawn where—
22Relief under this schedule is not withdrawn where—
23But where, in a case to which paragraph 21 or...
24The circumstances referred to in paragraph 23(a) are that the...
25This paragraph applies to a chargeable interest—
Case where relief not withdrawn: seller leaves group
26Relief under this schedule is not withdrawn where the buyer...
27The seller is regarded as leaving the group if the...
28But if there is a change in the control of...
29Paragraph 28 does not apply where— (a) there is a...
30There is a change in the control of the buyer...
31For the purposes of paragraph 30 a person does not...
Withdrawal of relief in certain cases involving successive transactions
32Where the following conditions are met, paragraphs 13 to 31...
33The first condition is that there is a change in...
34The second condition is that the change occurs—
35The third condition is that, apart from paragraph 32, relief...
36The fourth condition is that any previous transaction falls within...
37A previous transaction falls within this paragraph if—
38Paragraph 33 does not apply where— (a) there is a...
39If two or more transactions effected at the same time...
40There is a change in the control of a company...
Interpretation
41For the purposes of paragraphs 20 and 27 a company...
42In this Part of this schedule— “control” is to be...
PART 3ARecovery of relief
42ARecovery of relief
42BThe following persons may, by notice under paragraph 42E, be...
42CFor the purposes of paragraph 42B(b)— (a) a “ relevant...
42DIn paragraph 42B(c)— “ director ”, in relation to a...
42ERecovery of relief: supplementary
42FAny such notice must be given before the end of...
42GThe notice must state the amount required to be paid...
42HThe notice has effect— (a) for the purposes of the...
42IA person who has paid an amount in pursuance of...
42JA payment in pursuance of a notice under paragraph 42E...
42KIn paragraph 42H, “ Revenue Scotland assessment ” has the...
PART 4Interpretation
When are companies members of the same group?
43Companies are members of the same group if one is...
When is a company a subsidiary of another company?
44A company (A) is the 75% subsidiary of another company...
45For the purposes of paragraph 44(a)— (a) the ownership referred...
46“Ordinary share capital”, in relation to a company, means all...
47Chapter 6 of Part 5 of the Corporation Tax Act...
48But sections 171(1)(b) and (3), 173, 174 and 176 to...
Other definitions
49In this schedule— “arrangements” includes any scheme, agreement or understanding,...
SCHEDULE 10ASub-sale development relief
PART 1Introductory
Overview of relief
1(1) This schedule provides for relief in the case of...
PART 2The relief
General
2(1) Relief under this schedule may be claimed by the...
Qualifying sub-sale
3A sub-sale is a qualifying sub-sale if—
Qualifying conditions
4(1) The qualifying conditions are that— (a) the substantial performance...
Subject-matter
5References in this schedule to the “subject-matter” of a qualifying...
6References in this schedule to “part of the subject-matter” of...
Significant development
7In this schedule— “development”— means the building, on the subject-matter...
8In paragraph 7— “agricultural” is to be construed as meaning...
Full relief
9(1) W9here the subject-matter of the qualifying sub-sale is the...
Partial relief
10(1) Where the subject-matter of the qualifying sub-sale is part...
Claiming the relief
11Where the first buyer claims relief under this schedule, the...
12Relief under this schedule may not be claimed if relief...
PART 3Withdrawal of relief
Full withdrawal of relief
13Relief under this schedule is withdrawn if no development of...
14Where relief is withdrawn, the amount of tax chargeable in...
Partial withdrawal of relief
15(1) Relief under this schedule is partially withdrawn if—
PART 4Supplementary
Disapplication of section 14
16Where relief under this schedule is given, section 14(1)(c) is...
Qualifying sub-sale: consideration
17Where relief under this schedule is given the chargeable consideration...
SCHEDULE 11Reconstruction relief and acquisition relief
PART 1Introductory
Overview
1(1) This schedule provides for relief for certain transactions in...
PART 2Reconstruction relief
The relief
2A land transaction is exempt from charge if—
Qualifying conditions
3The qualifying conditions are— (a) that a company (“the acquiring...
4Where the consideration for the acquisition consists partly of the...
5If, immediately before the acquisition, the target company or the...
PART 3Acquisition relief
The relief
6(1) This paragraph applies where— (a) a land transaction is...
Qualifying conditions
7The qualifying conditions are— (a) that a company (“the acquiring...
8Where the consideration for the acquisition consists partly of the...
Interpretation
9For the purposes of qualifying condition (c)—
10In this Part of this schedule, “trade” includes any venture...
PART 4Withdrawal of relief
Overview
11This Part of this schedule is arranged as follows— paragraphs...
Withdrawal of relief
12Relief under Part 2 or Part 3 of this schedule...
13This paragraph applies where control of the acquiring company changes—...
14This paragraph applies where, at the time the control of...
Case where relief not withdrawn: change of control of acquiring company as result of transaction connected to divorce etc.
15Relief under Part 2 or Part 3 of this schedule...
16Relief under Part 2 or Part 3 of this schedule...
Case where relief not withdrawn: exempt intra-group transfer
17Relief under Part 2 or Part 3 of this schedule...
18But see paragraphs 22 to 24 for the effect of...
Case where relief not withdrawn: share acquisition relief
19Relief under Part 2 or Part 3 of this schedule...
20But see paragraphs 25 to 28 for the effect of...
Case where relief not withdrawn: controlling loan creditor
21Relief under Part 2 or Part 3 of this schedule...
Withdrawal of relief on subsequent non-exempt transfer
22Relief under Part 2 or Part 3 of this schedule...
23This paragraph applies where a company holding shares in the...
24This paragraph applies where the acquiring company or a relevant...
Withdrawal of relief where share acquisition relief applied but control of company subsequently changes
25Relief under Part 2 or Part 3 of this schedule...
26This paragraph applies where control of the other company mentioned...
27This paragraph applies where, at the time control of that...
28This paragraph applies where the acquiring company or a relevant...
Amount of tax chargeable where relief withdrawn
29Where relief is withdrawn, the amount of tax chargeable is...
30The amount chargeable is the tax that would have been...
Amount of tax chargeable where relief partially withdrawn
31Where relief is partially withdrawn, the tax chargeable is an...
32An “appropriate proportion” means an appropriate proportion having regard to—...
Interpretation
33In paragraphs 19 and 25— (a) “share acquisition relief” means...
34In this Part of this schedule, references to control of...
35In this Part of this schedule— “control” is to be...
PART 4ARecovery of relief
35ARecovery of relief
35BThe following persons may, by notice under paragraph 35E, be...
35CFor the purposes of paragraph 35B— (a) “ relevant time...
35DIn paragraph 35B(b)— “ director ”, in relation to a...
35ERecovery of relief: supplementary
35FAny such notice must be given before the end of...
35GThe notice must state the amount required to be paid...
35HThe notice has effect— (a) for the purposes of the...
35IA person who has paid an amount in pursuance of...
35JA payment in pursuance of a notice under paragraph 35E...
35KIn paragraph 35H, “ Revenue Scotland assessment ” has the...
PART 5Interpretation
When are companies members of the same group?
36Companies are members of the same group if one is...
When is a company a subsidiary of another company?
37A company (A) is the 75% subsidiary of another company...
38For the purposes of paragraph 37— (a) the ownership referred...
39“Ordinary share capital”, in relation to a company, means all...
40Chapter 6 of Part 5 of the Corporation Tax Act...
41But sections 171(1)(b) and (3), 173, 174 and 176 to...
Other definitions
42In this schedule— “arrangements” include any scheme, agreement or understanding,...
SCHEDULE 12Relief for incorporation of limited liability partnership
The relief
1A land transaction by which a chargeable interest is transferred...
The qualifying conditions
2The qualifying conditions are— (a) that the effective date of...
Interpretation
3In this schedule— “limited liability partnership” means a limited liability...
SCHEDULE 13Charities relief
The relief
1A land transaction is exempt from charge if the buyer...
Qualifying conditions
2The qualifying conditions are— (a) that the buyer intends to...
Qualifying charitable purposes
3A buyer holds the subject-matter of a transaction for qualifying...
Withdrawal of relief
4Relief under this schedule is withdrawn, or partially withdrawn, if—...
5A “disqualifying event” means— (a) the buyer ceasing to be...
6Where the relevant transaction is exempt from charge by virtue...
7A lease— (a) is granted “at a premium” if there...
8Where relief is withdrawn, the amount of tax chargeable is...
9Where relief is partially withdrawn, the amount of tax chargeable...
10An “appropriate proportion” means an appropriate proportion having regard to—...
11In relation to a transfer or grant that is, by...
Charitable trusts
12This schedule applies in relation to a charitable trust as...
13“Charitable trust” means— (a) a trust of which all the...
14In this schedule as it applies in relation to a...
Interpretation
15(1) In this schedule, “charity” means— (a) a body registered...
16In this schedule, "charitable purposes" has the meaning given by...
17In this schedule, “annual rent” means the average annual rent...
SCHEDULE 13A ( introduced by section 27 )
FRIENDLY SOCIETIES RELIEF
1The relief
2Interpretation
SCHEDULE 13B(introduced by section 27)
BUILDING SOCIETIES RELIEF
1The relief
2Interpretation
SCHEDULE 14Relief for certain compulsory purchases
The relief
1An acquisition of a chargeable interest by a local authority...
Qualifying condition
2The qualifying condition is that the local authority has made...
Interpretation
3For the purposes of this schedule it does not matter...
SCHEDULE 15Relief for compliance with planning obligations
The relief
1A land transaction that is entered into in order to...
The qualifying conditions
2The qualifying conditions are— (a) that the planning obligation or...
“Planning obligation” and “modification”
3“Planning obligation” means an agreement made under section 75 of...
4“Modification” of a planning obligation means modification as mentioned in...
Public authorities
5The following are public bodies for the purposes of paragraph...
SCHEDULE 16Public bodies relief
The relief
1A land transaction entered into on, in consequence of or...
2The Scottish Ministers may, by order, provide that a land...
Meaning of “reorganisation”
3A “reorganisation” means changes involving— (a) the establishment, reform or...
Public bodies
4The following are public bodies for the purposes of this...
5In this schedule, references to a public body include—
6In paragraphs 4 and 5, “company” means a company as...
SCHEDULE 16AVISITING FORCES AND INTERNATIONAL MILITARY HEADQUARTERS RELIEFS
The relief
1A land transaction entered into with a view to any...
2Paragraph 1 has effect in relation to any designated international...
3In this schedule— “designated” means designated by or under any...
SCHEDULE 16BRELIEF FOR PROPERTY ACCEPTED IN SATISFACTION OF TAX
The relief
1A land transaction entered into under section 9(4) of the...
SCHEDULE 16CLIGHTHOUSES RELIEF
The relief
1A land transaction entered into by or under the direction...
2A land transaction entered into by or under the direction...
Schedule 16D (introduced by section 27)Green Freeports Relief
PART 1Introductory
1Overview
PART 2The relief
2Full relief
3Partial relief
4Attributing chargeable consideration to land
PART 3Key terms
5Transaction land
6Qualifying green freeport land
7Use of land in a qualifying manner
PART 4Withdrawal of relief
8Withdrawal of relief
9The control period
10Disposal of interest in part of qualifying green freeport land during control period
PART 5Alternative finance arrangements
11Cases involving alternative finance arrangements
SCHEDULE 17Partnerships
PART 1Overview
Overview
1(1) This schedule makes provision about the application of this...
PART 2General provisions
Meaning of “partnership”
2In this Act, “ partnership ” means—
Chargeable interests treated as being held by partners etc.
3(1) For the purposes of this Act—
Acquisition of interest in partnership not chargeable except as specially provided
4The acquisition of an interest in a partnership is not...
Continuity of partnership
5For the purposes of this Act, a partnership is treated...
Partnership not to be regarded as unit trust scheme etc.
6A partnership is not to be regarded for the purposes...
PART 3Ordinary partnership transactions
Introduction
7This Part of this schedule applies to land transactions entered...
Responsibility of partners
8(1) Anything required or authorised to be done under this...
Representative partners
9(1) Anything required or authorised to be done by or...
Joint and several liability of responsible partners
10(1) Where the responsible partners are liable to make a...
PART 4Transactions involving transfer to a partnership
Overview of Part
11This Part of this schedule is arranged as follows— paragraphs...
Circumstances in which this Part applies
12(1) This Part of this schedule applies where—
Calculation of chargeable consideration etc.
13(1) The chargeable consideration for the land transfer is taken...
Sum of the lower proportions
14The sum of the lower proportions in relation to the...
Relevant owner
15(1) For the purposes of paragraph 14 (see Step 1),...
Corresponding partner
16(1) For the purposes of paragraph 14 (see Step 2),...
Transfer of partnership interest pursuant to earlier arrangements
17(1) This paragraph applies where— (a) subsequent to the land...
Withdrawal of money etc. from partnership after transfer of chargeable interest
18(1) This paragraph applies where, during the period of 3...
PART 5Transactions involving transfer from a partnership
Overview of Part
19This Part of this schedule is arranged as follows— paragraphs...
Circumstances in which Part applies
20(1) This Part of this schedule applies where a chargeable...
Calculation of chargeable consideration
21(1) The chargeable consideration for the land transfer is (subject...
Sum of the lower proportions
22The sum of the lower proportions in relation to the...
Relevant owner
23(1) For the purposes of paragraph 22 (see Step 1),...
Corresponding partner
24(1) For the purposes of paragraph 22 (see Step 2),...
Partnership share attributable to partner
25(1) This paragraph provides for determining the partnership share attributable...
26(1) Where this paragraph applies, the partnership share attributable to...
Transfer of chargeable interest from a partnership to a partnership
27(1) This paragraph applies where— (a) there is a transfer...
Transfer of chargeable interest from a partnership consisting wholly of bodies corporate
28(1) This paragraph applies where— (a) immediately before the land...
PART 6Application of Parts 3 to 5 to leases
Application of Parts 3 to 5 to leases
29(1) This paragraph applies in relation to a transaction to...
PART 7Property investment partnerships
Overview of Part
30This Part of this schedule is arranged as follows— paragraphs...
Meaning of “property investment partnership”
31(1) In this schedule, “ property-investment partnership ” means a...
Transfer of interest in partnership treated as land transaction
32(1) This paragraph applies where— (a) there is a transfer...
Exclusion of market rent leases
33(1) A lease held as partnership property immediately after a...
Partnership interests: application of provisions about exchanges etc.
34(1) Where paragraph 5 of schedule 2 (exchanges) applies to...
Election by property-investment partnership to disapply Part 4
35(1) Part 4 of this schedule does not apply to...
PART 8Application of provisions on exemptions, reliefs and notification
Overview of Part
36This Part of this schedule is arranged as follows— paragraph...
Application of exemptions and reliefs: general
37(1) Paragraph 1 of schedule 1 (exemption of transactions for...
Application of group relief
38(1) Schedule 10 (group relief) applies with the following modifications...
39(1) This paragraph applies where in calculating the sum of...
Application of charities relief
40(1) Schedule 13 (charities relief) applies to the transfer of...
Notification of transfers of partnership interests
41(1) A transaction which is a chargeable transaction by virtue...
PART 9Interpretation
Introduction
42This Part of this schedule defines expressions used in this...
Partnership property
43Any reference to partnership property is to an interest or...
Partnership share
44Any reference to a person's partnership share at any time...
Transfer of chargeable interest
45References to the transfer of a chargeable interest include—
Transfer of chargeable interest to a partnership
46For the purposes of this schedule, there is a transfer...
Transfer of chargeable interest from a partnership
47For the purposes of this schedule, there is a transfer...
Transfer of interest in a partnership
48For the purposes of this schedule, where a person acquires...
Connected persons
49In the application of section 1122 of the Corporation Tax...
Arrangements
50“ Arrangements ” includes any scheme, agreement or understanding, whether...
SCHEDULE 18Trusts
PART 1Overview
Overview
1(1) This schedule makes provision about the application of this...
PART 2Treatment of trusts and beneficiaries generally
Interests of beneficiaries under certain trusts
2Paragraphs 3 and 4 apply where property is held in...
3The beneficiary is to be treated for the purpose of...
4An acquisition of the interest of a beneficiary under the...
PART 3Transactions involving bare trusts
Acquisition of chargeable interest by bare trustee
5Where a person (T) acquires a chargeable interest or an...
6However, any tax due by the person or persons may,...
7Paragraphs 5 and 6 do not apply in relation to...
Grant of lease to bare trustee
8Where a lease is granted to a person as bare...
Grant of lease by bare trustee
9Where a person, as bare trustee, grants a lease, the...
PART 4Transactions involving settlements
Acquisition by trustees of settlements
10Where persons, as trustees of a settlement, acquire a chargeable...
Consideration for exercise of power of appointment or discretion
11Paragraph 12 applies where a chargeable interest is acquired by...
12Any consideration given for the person in whose favour the...
Reallocation of trust property as between beneficiaries
13Paragraph 14 applies where— (a) the trustees of a settlement...
14The fact that the beneficiary gives consent does not mean...
PART 5Settlements: payment of tax and returns
Liability to pay the tax
15Where the trustees of a settlement are liable to pay...
Liability to make returns
16A return in relation to a land transaction may be...
Duty to make declaration
17The declaration required by section 36(1) or (2)(a) must be...
Responsible trustees
18The responsible trustees, in relation to a land transaction, are—...
PART 6Interpretation
Meaning of “bare trust”
19In this schedule, a “bare trust”— (a) is a trust...
Meaning of “absolutely entitled”
20The references in paragraph 19 to a person being absolutely...
Meaning of “settlement”
21In this schedule, “ settlement ” means a trust that...
SCHEDULE 19Leases
PART 1Introductory
Overview
1(1) This schedule makes provision about the application of this...
Calculation of tax chargeable where chargeable consideration includes rent
2Where the chargeable consideration for a chargeable transaction to which...
PART 2Amount of tax chargeable: rent
Tax rates and tax bands
3(1) The Scottish Ministers must, by order, specify the tax...
Amount of tax chargeable in respect of rent
4The amount of tax chargeable on so much of the...
Amount of tax chargeable in respect of rent: linked transactions
5Where a chargeable transaction to which this schedule applies is...
Net present value
6The net present value (NPV) of the rent payable over...
Temporal discount rate
7(1) For the purposes of this schedule the “temporal discount...
PART 3Amount of tax chargeable: consideration other than rent
Amount of tax chargeable in respect of consideration other than rent: general
8(1) Where in the case of a transaction to which...
Amount of tax chargeable in respect of consideration other than rent: nil rate tax band
9(1) This paragraph applies in the case of a transaction...
PART 4Review of tax chargeable
Regular review of tax chargeable
10(1) This paragraph applies where, in relation to a chargeable...
Review of tax chargeable on certain events
11(1) This paragraph applies where, in relation to a chargeable...
PART 5Chargeable consideration: rent and consideration other than rent
Rent
12(1) For the purposes of this Act, a single sum...
Variable or uncertain rent
13(1) This paragraph applies to determine the amount of rent...
Reverse premium
14(1) In the case of the grant, assignation or renunciation...
Tenant's obligations etc. that do not count as chargeable consideration
15(1) In the case of the grant of a lease...
Assignation of lease: assumption of obligations by assignee
16In the case of an assignation of a lease the...
Loan or deposit in connection with grant or assignation of lease
17(1) Where, under arrangements made in connection with the grant...
Renunciation of existing lease in return for new lease
18(1) Where a lease is granted in consideration of the...
PART 6Other provision about leases
Meaning of lease for a fixed term
19In the application of this schedule to a lease for...
Leases that continue after a fixed term
20(1) This paragraph applies to— (a) a lease for a...
Leases that continue after a fixed term: grant of new lease
21(1) This paragraph applies where— (a) (ignoring this paragraph) paragraph...
Treatment of leases for indefinite term
22(1) For the purposes of this Act (except section 30...
Treatment of successive linked leases
23(1) This paragraph applies where— (a) successive leases are granted...
Rent for overlap period in case of grant of further lease
24(1) This paragraph applies where— (a) A renounces an existing...
Agreement for lease substantially performed etc.
25(1) Where— (a) there is an agreement (including missives not...
Missives of let followed by execution of formal lease
26(1) Where a lease is constituted by concluded missives of...
Cases where assignation of lease treated as grant of lease
27(1) This paragraph applies where the grant of a lease...
Assignation of lease: responsibility of assignee for returns etc.
28(1) Where a lease is assigned, anything that but for...
Reduction of rent or term or other variation of lease
29(1) Where a lease is varied so as to reduce...
Increase of rent or term: notification
30(1) This paragraph applies where, in relation to a land...
SCHEDULE 20Index of defined expressions

Land and Buildings Transaction Tax (Scotland) Act 2013

2013 asp 11

An Act of the Scottish Parliament to make provision about the taxation of land transactions.

Annotations:
Modifications etc. (not altering text)