Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 10A paragraph 5

Subject-matter of a qualifying sub-sale

Paragraph 5 of Schedule 10A defines what is meant by the "subject-matter" of a qualifying sub-sale for the purposes of the sub-sale development relief provisions.

• This paragraph provides a definition used throughout Schedule 10A
• The "subject-matter" of a qualifying sub-sale is the chargeable interest (i.e. the land or property right) that the second buyer is entitled to have formally transferred to them
• The entitlement to call for the conveyance arises as a result of the qualifying sub-sale arrangement
• This definition ensures consistency when other parts of the schedule refer to the subject-matter of a qualifying sub-sale