LBTT2012 - Indemnity given by buyer

LBTT guidance on determining the chargeable consideration in a land transaction where the buyer indemnifies the seller.

Where the buyer agrees to indemnify the seller in respect of liability to a third party arising from breach of an obligation owed by the seller in relation to the land that is the subject of the transaction, neither the agreement nor any payment made in pursuance of it counts as chargeable consideration.

LBTT(S)A 2013 schedule 2 paragraph 14.

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