http://www.legislation.gov.uk/ssi/2015/123/article/2/made
The Land and Buildings Transaction Tax (Sub-sale Development Relief and Multiple Dwellings Relief) (Scotland) Order 2015
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King's Printer for Scotland
2019-08-22
LAND AND BUILDINGS TRANSACTION TAX
This Order amends the Land and Buildings Transaction Tax (Scotland) Act 2013 (“the Act”) to insert a new schedule 10A which provides for a targeted relief. The targeted relief is to provide relief from land and buildings transaction tax where the second of two connected transactions leads to a significant development of the subjects of the second of the land transactions. The relief requires that the substantial performance or completion of the first contract takes place at the same time as, and in connection with, the substantial performance or completion of the second contract. Accordingly where there is a time gap between someone acquiring a site through a conveyance and deciding to sell it on to a third party, the relief is not available.
The Land and Buildings Transaction Tax (Sub-sale Development Relief and Multiple Dwellings Relief) (Scotland) Order 2015
PART 2Sub-sale development relief
Amendment of section 25 of the Act2
After section 25(3)(b) of the Act (amount of tax chargeable), insert—
ba
schedule 10A (sub-sale development relief),