Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 4, paragraph 7

Qualifying conditions for property trader relief

Schedule 4, paragraph 7 sets out the qualifying conditions that must all be met for a property trader to claim relief when purchasing an old dwelling from an individual who is buying a new-build home.

• The property trader must operate a business that includes buying dwellings from individuals who are purchasing new homes from house builders, and the individual must have lived in the old dwelling as their main residence within the last two years.
• The individual selling the old dwelling must be acquiring a new dwelling from a house-building company and must intend to occupy it as their only or main residence.
• The property trader must not intend to spend more than the permitted amount on refurbishing the old dwelling, must not let it out or allow any of its principals, employees, or connected persons to live in it.
• The land acquired by the property trader along with the old dwelling must not exceed the permitted area.