LBTT3002 - Exempt Transactions

Overview of LBTT guidance on land transactions which are exempt from LBTT.

The acquisition of an exempt interest, namely a security interest such as the creditor’s interest in a standard security, falls outside the charge to LBTT.

LBTT(S)A 2013 section 5

Furthermore, there are seven types of land transactions which are specifically exempt from LBTT. No tax is charged on these transactions and no LBTT return is required to be made to us.

LBTT(S)A 2013 schedule 1

They are:

Any fraudulent arrangements concerning exemptions will be treated as tax evasion and referred for criminal investigation and prosecution. Any artificial arrangements concerning exemptions are likely to fall foul of the Scottish General Anti-Avoidance Rule (see RSTP8001).

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