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Moving Forward with Land and Buildings Transaction Tax: A Consultation on Proposed Subordinate Legislation (May 2014)

Moving Forward with Land and Buildings Transaction Tax: A Consultation on Proposed Subordinate Legislation (May 2014)

Thursday, May 1, 2014

ISBN: 9781784124458

This consultation seeks views on draft subordinate legislation which the Scottish Government plans to bring forward to the Scottish Parliament under the powers in the Land and Buildings Transaction Tax (Scotland) Act 2013. Land and Buildings Transaction Tax is designed to replace UK Stamp Duty Land Tax in Scotland and it is expected that it will apply to land transactions taking place on or after 1 April 2015.

Executive Summary

This consultation seeks views on draft subordinate legislation which the Scottish Government plans to bring forward to the Scottish Parliament under the powers in the Land and Buildings Transaction Tax (Scotland) Act 2013 (LBTT Act).

In order to implement LBTT in Scotland from 1 April 2015 onwards, the Scottish Government has prepared draft subordinate legislation under the LBTT Act relating to:

• Application to defer payment - section 41(1)

• Taxation of Licences to occupy property - section 53(1)

• Multiple dwellings relief - schedule 5, paragraph 12

• Crofting community right to buy relief - schedule 9, paragraph 3

• Acquisitions relief - schedule 11, paragraph 6(3)

• Charities relief - schedule 13, paragraph 15(3)(d)

This consultation package includes the draft orders and regulations which will be brought forward to Parliament on these areas of legislation.