Land and Buildings Transaction Tax (Scotland) Act 2013 section 20

Contingent, uncertain or unascertained consideration: further provision

Section 20 explains that the rules for estimating contingent, uncertain or unascertained consideration (in sections 18 and 19) are subject to further provisions elsewhere in the Act that deal with what happens after the initial estimate is made.

• The rules for estimating contingent, uncertain or unascertained consideration do not operate in isolation — they are subject to additional provisions in other parts of the Act.
• If a contingency is resolved or the actual consideration becomes known, a further return must be submitted to Revenue Scotland under section 31.
• If the final amount turns out to be lower than the original estimate, meaning less tax is due, the buyer may be entitled to a repayment under section 32.
• The buyer may apply under section 41 to defer payment of tax where the consideration is contingent or uncertain, rather than paying on the basis of the initial estimate.

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