F1SCHEDULE 2AADDITIONAL AMOUNT: TRANSACTIONS RELATING TO SECOND HOMES ETC.
PART 2TRANSACTIONS TO WHICH THIS SCHEDULE APPLIES
Transactions where buyer is a non-individual etc.
3
1
This schedule applies to a chargeable transaction if the following conditions are satisfied—
a
the subject-matter of the transaction consists of or includes the acquisition of ownership of a dwelling,
b
the relevant consideration for the transaction is £40,000 or more, and
c
the buyer—
i
is not an individual, or
ii
is an individual and sub-paragraph (2) or (5) applies.
2
This sub-paragraph applies if the acquisition is made in the course of a business of the individual the sole or main activity of which is investing or dealing in chargeable interests.
3
Sub-paragraph (2) of paragraph 31 of schedule 17 applies for the purposes of sub-paragraph (2) of this paragraph as it applies for the purposes of paragraph 31(1) of that schedule.
4
In sub-paragraph (2), the reference to a business of the individual includes a reference to a business of a partnership of which the individual is a partner.
5
This sub-paragraph applies if the individual is making the acquisition as trustee under a settlement and, in relation to any dwelling that is or forms part of the subject-matter of the transaction, there is no interested beneficiary.
6
For the purposes of sub-paragraph (5), a beneficiary under the settlement is an interested beneficiary in relation to a dwelling if the beneficiary has or will have a relevant interest in the dwelling.
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)