Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 5 paragraph 29

Definition of "relevant deeming provision"

Paragraph 29 defines the term "relevant deeming provision" as used in paragraph 28 of Schedule 5, which deals with multiple dwellings relief.

• This paragraph provides a definition used in paragraph 28, which addresses situations where property is treated as the main subject matter of a transaction under a deeming rule.
• A "relevant deeming provision" means either section 10 (substantial performance of a contract without completion) or section 11 (contract providing for conveyance to a third party).
• Section 10 treats a transaction as taking place when a contract is substantially performed, even if formal completion has not yet occurred.
• Section 11 deals with situations where a contract is entered into by one party but the property is ultimately conveyed to a different person, and deems certain transactions to arise in those circumstances.