Land and Buildings Transaction Tax (Scotland) Act 2013 section 32

Contingency ceases or consideration ascertained: less tax payable

Section 32 explains how a buyer can claim a repayment of LBTT when an originally uncertain, contingent, or unascertained element of the purchase price is later resolved and the final amount turns out to be lower than what was initially used to calculate the tax.

• Where LBTT was calculated on contingent, uncertain, or unascertained consideration and a later event confirms that less tax is actually due, the buyer is entitled to reclaim the overpayment.
• If the amendment period for the original land transaction return is still open, the buyer should amend the return to reflect the reduced consideration and obtain the repayment that way.
• If the amendment period has already expired and the return has not been amended, the buyer can instead make a formal claim to Revenue Scotland for repayment of the overpaid tax.
• This section does not apply to the extent that the consideration consists of rent — separate rules in Schedule 19 (leases) deal with rent adjustments.