Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 11 paragraph 30

The amount chargeable when relief is withdrawn

Schedule 11 paragraph 30 sets out how to calculate the amount of tax chargeable when a previously claimed relief is withdrawn from a land transaction.

• When a relief is withdrawn, the tax that would originally have been due must be calculated as if no relief had applied.
• For most transactions, the chargeable consideration is taken to be the market value of the property at the time of the original transaction.
• Where the transaction involved the grant of a lease, the chargeable amount is based on the rent rather than market value.
• This ensures the correct amount of LBTT is recovered when the conditions for maintaining a relief are no longer met.