Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 2A paragraph 20

Interpretation

Schedule 2A paragraph 20 provides the definitions of key terms used throughout the schedule dealing with the additional amount (supplement) on second homes and other additional dwellings, and explains how certain concepts such as "dwelling" and "relevant interest" are to be understood.

• Key terms defined include "bare trust", "coronavirus", "relevant consideration", and "settlement", each drawing on definitions found elsewhere in the Act or in the Coronavirus (Scotland) Act 2020.
• The meaning of "dwelling" for the purposes of the ADS schedule is the same as the meaning used in Schedule 5 (the residential rates schedule) of the Act.
• A beneficiary of a trust (settlement) has a "relevant interest" in a dwelling held within the trust if they are entitled either to live in that dwelling for life or to receive income from it.
• These definitions are important because they determine how trust arrangements and dwelling ownership are assessed when deciding whether the ADS applies to a transaction.