F1Schedule 16D (introduced by section 27)Green Freeports Relief
PART 2The relief
4Attributing chargeable consideration to land
1
For the purposes of this schedule, the chargeable consideration for a land transaction that is attributable to qualifying green freeport land must be determined on a just and reasonable basis.
2
Sub-paragraphs (3) and (4) apply if less than 100% of the chargeable consideration attributable to transaction land situated in a green freeport tax site (the “freeport consideration”) is attributable to land that satisfies the condition in paragraph 6(1)(b).
3
If at least 90% of the freeport consideration is attributable to land that satisfies the condition in paragraph 6(1)(b) then, for the purposes of this schedule, all of the freeport consideration is to be treated as being attributable to qualifying green freeport land.
4
If less than 10% of the freeport consideration is attributable to land that satisfies the condition in paragraph 6(1)(b) then, for the purposes of this schedule, none of the freeport consideration is to be treated as being attributable to qualifying green freeport land.
Sch. 16D inserted (1.10.2023) by The Land and Buildings Transaction Tax (Green Freeports Relief) (Scotland) Order 2023 (S.S.I. 2023/280), art. 1(1), sch.