Land and Buildings Transaction Tax (Scotland) Act 2013 section 16

Exempt transaction

Section 16 establishes that certain land transactions are completely exempt from Land and Buildings Transaction Tax where they fall within the categories listed in Schedule 1 of the Act.

• A land transaction may be entirely exempt from LBTT if it falls within one of the categories set out in Schedule 1 of the Act.
• Schedule 1 contains the definitive list of transaction types that qualify for exemption.
• If a transaction is exempt, no LBTT is chargeable and, in most cases, no tax return needs to be submitted.
• Whether a transaction qualifies as exempt depends entirely on meeting the specific conditions laid out in Schedule 1.