Revenue Scotland would like to remind agents of their responsibilities in respect to Arrangements Satisfactory for LBTT. Transactions for residential properties with a chargeable consideration of £40,000 and over will require an LBTT return to be made, even if no tax is due. Full details on which land transactions are notifiable for LBTT purposes and which are not can be found at LBTT4003”
In accordance with LBTT(S)A 2013 s43, a return is to be made, and tax paid before an application for registration may be accepted by The Keeper. Tax is treated as being paid if arrangements satisfactory to Revenue Scotland are in place.
Further guidance of what is considered Arrangements Satisfactory is available within LBTT4008 of Revenue Scotland’s guidance, and Revenue Scotland will continue to monitor compliance with the guidance. As a reminder, the following payment windows apply for the range of payment methods:
BACS/CHAPS – If the return is submitted before the effective date, payment to be received by Revenue Scotland no later than the fifth working day after the effective date.
If the return is submitted after the effective date, payment to be received by Revenue Scotland no later than the earlier of:
(a) the fifth working day after the submission date;
(b) the last working day which is, or precedes, the thirtieth calendar day after the effective date.
Cheques – should always accompany the paper return sent to RoS, or if for an online return, be received by RoS by the third working day after submission.
Revenue Scotland offers a Direct Debit facility to agents where the total tax declared on a return is collected by Revenue Scotland from the agent’s nominated bank account one week after submission. For further information please click here or contact finance@revenue.scot.
Agents should ensure that they are in a position to make the payment of tax to these timescales where they are making the payment of tax on behalf of their client and arrangements satisfactory are being relied upon.
If you are experiencing any issues with submitting a return or payment, the Revenue Scotland support desk is available on 03000 200 310.