Land and Buildings Transaction Tax (Scotland) Act 2013 section 4

Chargeable interest

Section 4 defines what constitutes a "chargeable interest" for the purposes of LBTT, establishing the types of interests in Scottish land that fall within the scope of the tax.

• A chargeable interest is any real right or other interest in or over land in Scotland, provided it is not specifically exempt from the tax.
• The definition also includes the benefit of any obligation, restriction or condition that affects the value of such a right or interest in land.
• Land in Scotland, for these purposes, does not include land below mean low water mark, meaning the seabed and foreshore below that point are excluded.
• An interest must satisfy two tests to be chargeable: it must be one of the types listed in the section, and it must not be classified as an exempt interest.