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

Qualifying conditions for part-exchange relief

Schedule 4, paragraph 4 sets out the five qualifying conditions that must all be met for the part-exchange relief between an individual and a house-building company to apply.

• The individual must acquire a new dwelling from the house-building company, either alone or jointly with others.
• The individual must have lived in the old dwelling as their only or main residence at some point during the two years before the house-building company acquired it.
• The individual must intend to live in the new dwelling as their only or main residence, and the two transactions must be linked as consideration for each other.
• The land acquired by the house-building company along with the old dwelling must not exceed the permitted area.