Land and Buildings Transaction Tax (Scotland) Act 2013 section 17

Chargeable consideration

Section 17 explains what chargeable consideration means for LBTT purposes and who has the power to change the rules around it.

• The detailed rules on chargeable consideration (essentially the price or value given for a land transaction) are set out in Schedule 2 of the Act.
• Chargeable consideration is the amount on which LBTT is calculated — it includes not just money but potentially other forms of payment or value exchanged.
• The Scottish Ministers have the power to make regulations that modify what counts as chargeable consideration and how its amount or value is determined.
• This regulation-making power allows the Scottish Ministers to adapt the rules over time without requiring a new Act of Parliament.