Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 5 paragraph 14

Tax due in relation to remaining property

Paragraph 14 of Schedule 5 sets out the method for calculating the amount of LBTT due on the remaining (non-residential) property element of a mixed-use transaction.

• The calculation follows a three-step process to isolate the tax attributable to remaining property.
• First, you calculate the total tax that would be due on the whole transaction as if the special rules in Schedule 5 did not apply.
• Second, you work out what fraction of the total consideration is attributable to the remaining property.
• Third, you multiply the total tax figure by that fraction to arrive at the tax due on the remaining property.