SCHEDULE
Articles 2, 3 and 4
TAX BANDS AND TAX RATES
Table A: Residential
The Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Order 2015
| Year | 2015 |
2015No. 126
LAND AND BUILDINGS TRANSACTION TAX
The Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Order 2015
17thMarch2015
1stApril2015
The Scottish Ministers make the following Order in exercise of the powers conferred by section 24(1) of and paragraph 3 of schedule 19 to the Land and Buildings Transaction Tax (Scotland) Act 2013( 1) and all other powers enabling them to do so.
In accordance with section 68(2)(b) and (k)( 2) of that Act a draft of this Order has been laid before and approved by resolution of the Scottish Parliament.
Citation, commencement, application and interpretation
1.-(1) This Order may be cited as the Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Order 2015 and comes into force on 1st April 2015.
(2) This Order has effect in relation to land transactions in relation to which-
(a) the effective date is on or after 1st April 2015; or(b) the LBTT(S) Act 2013 applies by virtue of the Land and Buildings Transaction Tax (Transitional Provisions) (Scotland) Order 2014( 3).(3) In this Order, "the LBTT(S) Act 2013" means the Land and Buildings Transaction Tax (Scotland) Act 2013.
Land and buildings transaction tax rates and tax bands - residential property transactions
2. For the purposes of section 24(1)(a) of the LBTT(S) Act 2013 (residential property transactions) the tax bands and the percentage tax rates for each band for residential property transactions are specified in Table A in the Schedule to this Order.
Land and buildings transaction tax rates and tax bands - non-residential property transactions
3. For the purposes of section 24(1)(b) of the LBTT(S) Act 2013 (non-residential property transactions) the tax bands and the percentage tax rates for each band for non-residential property transactions are specified in Table B in the Schedule to this Order.
Land and buildings transaction tax rates and tax bands - chargeable consideration which consists of rent
4. For the purposes of paragraph 3 of schedule 19 to the LBTT(S) Act 2013 (chargeable consideration which consists of rent) the tax bands and the percentage tax rates for each band applicable to chargeable consideration which consists of rent are specified in Table C in the Schedule to this Order.
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JOHN SWINNEY A member of the Scottish Government St Andrew's House, Edinburgh |
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17th March 2015 |
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