F1Schedule 16D (introduced by section 27)Green Freeports Relief
Annotations:
Amendments (Textual)
PART 3Key terms
6Qualifying green freeport land
1
For the purposes of this schedule, transaction land is “qualifying green freeport land” to the extent that, on the effective date of the transaction—
a
it is situated in a green freeport tax site, and
b
the buyer intends it to be used exclusively in a qualifying manner.
2
In this schedule, “green freeport tax site” means an area in Scotland which—
a
is within an area which is identified as a freeport in a document published by, or with the consent of, the Treasury for the purposes of section 113 of the Finance Act 2021 (and not withdrawn), and
b
has been designated by regulations made under that section.
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.