Land and Buildings Transaction Tax (Scotland) Act 2013 section 19

Uncertain or unascertained consideration

Section 19 explains how to handle situations where the consideration (the price or value exchanged) for a land or buildings transaction is not yet known or depends on future events that may or may not occur.

• Where all or part of the consideration for a transaction is uncertain or has not yet been determined, a reasonable estimate must be used to calculate the amount or value
• Consideration is regarded as "uncertain" when its amount or value depends on future events whose outcome is not yet known
• Consideration is "unascertained" when the final amount simply has not yet been fixed or calculated at the time the return must be filed
• If the actual consideration later turns out to be different from the reasonable estimate, a further return or amendment may be needed to correct the tax position