LBTT4004 - Duty to make an LBTT return

LBTT guidance on the rules regarding making a LBTT return, including an overview of situations which may require a further LBTT return to be made.

Although in almost every land transaction the buyer’s agent is likely to make the LBTT return and pay any tax on behalf of the buyer, the buyer remains legally responsible for fulfilling both of these actions accurately and on time, where they are required to do so.

The buyer must make a LBTT return (and calculate and pay any tax due at the same time – see LBTT4005) to us for a notifiable transaction (see LBTT4003) within 30 days of the day after the effective date (see LBTT1004) of the transaction (see LBTT1002). The date the return is required to be made by is the filing date (see LBTT1000).

Note: The effective date in these circumstances is the ‘relevant date’ for the purposes of the ‘relevant date’ field in the LBTT return.

Guidance on How to make an LBTT return and pay tax is available separately on our website.

Once the LBTT return has been made, subject to certain restrictions it can be amended up to 12 months after the filing date - see LBTT4006.

Depending on the circumstances a further LBTT return may also be required at some point – see:

LBTT(S)A 2013 section 29

A buyer who fails to make a LBTT return to us by the filing date is liable to a penalty (see RSTP3005). If the return contains an inaccuracy, the buyer may be liable to a penalty (see RSTP3011).

A buyer required to make a LBTT return to us is also required to keep and preserve certain records. A buyer in a land transaction which is not notifiable is also required in some instances to keep and preserve certain records, mostly to evidence that the transaction was not notifiable. See the guidance on keeping and preserving records (LBTT9001) for more information.

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