Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 4 paragraph 15

Exception from withdrawal of relief for short-term leases or licences

Schedule 4 paragraph 15 provides an exception to the rule that relief is withdrawn when a property trader grants a lease or licence of the acquired property back to the original individual seller.

• This paragraph creates a specific exception to the withdrawal of relief rule in paragraph 14(b).
• The exception applies where a property trader grants a lease or licence of the acquired property back to the individual from whom it was purchased.
• The lease or licence must be for a period of no more than 6 months to qualify for this exception.
• Where this exception applies, the relief under Part 3 of Schedule 4 is not withdrawn despite the property being leased or licensed back to the seller.