Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 10A paragraph 6

Part of the subject-matter of the first contract

Schedule 10A paragraph 6 defines what is meant by "part of the subject-matter" of the first contract when applying sub-sale development relief.

• The term "part of the subject-matter" is used throughout Schedule 10A in the context of sub-sale development relief.
• It refers to a chargeable interest of the same type as that involved in the first contract (as described in paragraph 2(1)).
• The key distinction is that it relates to only part of the land covered by the first contract, rather than all of it.
• This definition is relevant where a sub-sale or development arrangement involves only a portion of the land originally contracted for.