Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 19 paragraph 10

Three-yearly review returns for leases

Schedule 19 paragraph 10 requires tenants to submit a review return to Revenue Scotland every three years for as long as a lease subject to LBTT remains in force and has not been assigned.

• Tenants must file a review return every three years if the lease has not ended or been assigned
• The return must be submitted within 30 days of each review date and must include a self-assessment of the tax due
• Tax is calculated using the rates and bands that applied at the original effective date of the transaction, not the rates in force at the review date
• If the review shows that too much tax has been paid, Revenue Scotland must repay the overpayment