Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 7 paragraph 1

Alternative property finance arrangements

Schedule 7, paragraph 1 introduces the schedule dealing with LBTT relief for certain land transactions that are connected to alternative (typically Sharia-compliant) property finance arrangements.

• Schedule 7 provides relief from LBTT for land transactions linked to alternative property finance arrangements
• The schedule identifies which specific types of alternative finance arrangements qualify for relief
• There are limitations on the arrangements that can benefit from the relief
• The schedule sets out when a financial institution's interest in the property is treated as exempt from LBTT