Land and Buildings Transaction Tax (Scotland) Act 2013 section 5

Transaction land

Section 5 of Schedule 16D defines the term "transaction land" as used throughout the Green Freeports Relief provisions.

• The term "transaction land" is a defined term used throughout the Green Freeports Relief schedule.
• It refers to the actual land involved in a land transaction that is being assessed for LBTT purposes.
• Specifically, it means land in which a chargeable interest is the subject matter of the transaction.
• This definition ensures clarity when other parts of the relief rules refer to the land that qualifies for or is connected to a Green Freeports Relief claim.