Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 1 paragraph 7

Variation of a disposition following death

Paragraph 7 of Schedule 1 deals with the circumstances in which a variation of a deceased person's estate — whether under a will, intestacy rules, or otherwise — is exempt from LBTT.

• A variation of a deceased person's disposition of property can be exempt from LBTT if certain conditions are met.
• The variation must be carried out within two years of the person's death, and no consideration (other than a corresponding variation of another disposition) may be given for it.
• If consideration other than a reciprocal variation is given, the transaction is not fully exempt and the chargeable consideration is calculated under specific rules in Schedule 2.
• The exemption applies regardless of whether the administration of the estate is complete or whether the property has already been distributed.