LBTT3009 - Variation of testamentary dispositions etc.

LBTT3009 - Variation of testamentary dispositions etc.

This exemption applies to transactions which change the terms of a will or intestacy (within two years of someone dying) so that a different beneficiary receives a property. Provided the new beneficiary does not make any compensation payment, including the assumption of liability for a mortgage, the transaction is exempt from LBTT. A variation in the terms of the will or intestacy in favour of the original beneficiary does not count as a compensation payment - for example, leaving them something else instead of the property.

LBTT(S)A 2013 schedule 1 paragraph 7

See also the rules in relation to chargeable consideration (LBTT2011).

LBTT(S)A 2013 schedule 2 paragraph 9

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