LegalizeThe Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Order 2015
Made: 17th March 2015
Coming into force: 1st April 2015
The Scottish Ministers make the following Order in exercise of the powers conferred by section 24(1) of and paragraph 3 of schedule 19 to the Land and Buildings Transaction Tax (Scotland) Act 2013 and all other powers enabling them to do so.
In accordance with section 68(2)(b) and (k) of that Act a draft of this Order has been laid before and approved by resolution of the Scottish Parliament.
Citation, commencement, application and interpretation
1
- (1) This Order may be cited as the Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Order 2015 and comes into force on 1st April 2015.
- (2) This Order has effect in relation to land transactions in relation to which—
- (a) the effective date is on or after 1st April 2015; or
- (b) the LBTT(S) Act 2013 applies by virtue of the Land and Buildings Transaction Tax (Transitional Provisions) (Scotland) Order 2014 .
- (3) In this Order, “the LBTT(S) Act 2013” means the Land and Buildings Transaction Tax (Scotland) Act 2013.
Land and buildings transaction tax rates and tax bands – residential property transactions
2
For the purposes of section 24(1)(a) of the LBTT(S) Act 2013 (residential property transactions) the tax bands and the percentage tax rates for each band for residential property transactions are specified in Table A in the Schedule to this Order.
Land and buildings transaction tax rates and tax bands – non-residential property transactions
3
For the purposes of section 24(1)(b) of the LBTT(S) Act 2013 (non-residential property transactions) the tax bands and the percentage tax rates for each band for non-residential property transactions are specified in Table B in the Schedule to this Order.
Land and buildings transaction tax rates and tax bands – chargeable consideration which consists of rent
4
For the purposes of paragraph 3 of schedule 19 to the LBTT(S) Act 2013 (chargeable consideration which consists of rent) the tax bands and the percentage tax rates for each band applicable to chargeable consideration which consists of rent are specified in Table C in the Schedule to this Order.
SCHEDULE — TAX BANDS AND TAX RATES
| Relevant consideration | Percentage | |
|---|---|---|
| nil rate band | Not more than £145,000 £250,000 | 0% |
| first tax band | More than £145,000 but not more than £250,000 | 2% |
| second first tax band | More than £250,000 but not more than £325,000 | 5% |
| third second tax band | More than £325,000 but not more than £750,000 | 10% |
| fourth third tax band | More than £750,000 | 12% |
| Relevant consideration | Percentage | |
| --- | --- | --- |
| nil rate band | Not more than £150,000 | 0% |
| first tax band | More than £150,000 but not more than £250,000 | 1% |
| second tax band | More than £250,000 | 5% |
| Net present value (NPV) of rent payable | Percentage | |
| --- | --- | --- |
| nil rate band | Not more than £150,000 | 0% |
| first tax band | More than £150,000 but not more than £2 million | 1% |
| second tax band | More than £2 million | 2% |
Signed
JOHN SWINNEY — A member of the Scottish Government — 2015-03-17
Explanatory note
(This note is not part of the Order)
Footnotes
[^f00001]: 2013 asp 11.
[^f00002]: Section 68 is amended by paragraph 9(16) of schedule 4 to the Revenue Scotland and Tax Powers Act 2014 (asp 16).
[^f00003]: S.S.I. 2014/377.
Editorial notes
[^c22453051]: 2013 asp 11.
[^c22453061]: Section 68 is amended by paragraph 9(16) of schedule 4 to the Revenue Scotland and Tax Powers Act 2014 (asp 16).
[^c22453071]: S.S.I. 2014/377.
[^key-0cd489ffc202b99f21aed2a093bd77d2]: Sum in sch. Table B substituted (25.1.2019) by The Land and Buildings Transaction Tax (Tax Rates and Tax Bands etc) (Scotland) Amendment Order 2018 (S.S.I. 2018/372), arts. 1(1), 2(a) (with arts. 1(2), 4)
[^key-c264cab93092396b530226e4510eb16c]: Sum in sch. Table B substituted (25.1.2019) by The Land and Buildings Transaction Tax (Tax Rates and Tax Bands etc) (Scotland) Amendment Order 2018 (S.S.I. 2018/372), arts. 1(1), 2(b) (with arts. 1(2), 4)
[^key-31a8e536597e4375e4a8db96817077bb]: Percentage in sch. Table B substituted (25.1.2019) by The Land and Buildings Transaction Tax (Tax Rates and Tax Bands etc) (Scotland) Amendment Order 2018 (S.S.I. 2018/372), arts. 1(1), 2(c) (with arts. 1(2), 4)
[^key-9a53e2f0109b1282f14a9988fb621cb7]: Percentage in sch. Table B substituted (25.1.2019) by The Land and Buildings Transaction Tax (Tax Rates and Tax Bands etc) (Scotland) Amendment Order 2018 (S.S.I. 2018/372), arts. 1(1), 2(d) (with arts. 1(2), 4)
[^key-84f6477afc97c22d2d0669df921df643]: Words in sch. Table C inserted (7.2.2020) by The Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Amendment Order 2020 (S.S.I. 2020/24), arts. 1(1), 2(a) (with arts. 1(2), 3)
[^key-827be02ff8de5141c161c7ed0ac13bb7]: Words in sch. Table C inserted (7.2.2020) by The Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Amendment Order 2020 (S.S.I. 2020/24), arts. 1(1), 2(b) (with arts. 1(2), 3)
[^key-47446637bdda2ebdc0231e609b3a7938]: Sum in sch. Table A substituted (temp.) (15.7.2020) by virtue of The Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Amendment (No. 2) (Coronavirus) Order 2020 (S.S.I. 2020/215), arts. 1(1)(2), 2(1)(2)(a)
[^key-91d31efd11bfde6120a586b33d608234]: Words in sch. Table A omitted (temp.) (15.7.2020) by virtue of The Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Amendment (No. 2) (Coronavirus) Order 2020 (S.S.I. 2020/215), arts. 1(1)(2), 2(1)(2)(b)
[^key-1edc2db6a77f31319469380b11d0df18]: Word in sch. Table A substituted (temp.) (15.7.2020) by virtue of The Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Amendment (No. 2) (Coronavirus) Order 2020 (S.S.I. 2020/215), arts. 1(1)(2), 2(1)(2)(c)
[^key-3201986f0d0dde90da1f868b6c6cc373]: Word in sch. Table A substituted (temp.) (15.7.2020) by virtue of The Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Amendment (No. 2) (Coronavirus) Order 2020 (S.S.I. 2020/215), arts. 1(1)(2), 2(1)(2)(d)
[^key-5847ed7162c64ee1697600fa28db811a]: Word in sch. Table A substituted (temp.) (15.7.2020) by virtue of The Land and Buildings Transaction Tax (Tax Rates and Tax Bands) (Scotland) Amendment (No. 2) (Coronavirus) Order 2020 (S.S.I. 2020/215), arts. 1(1)(2), 2(1)(2)(e)
Reading this document does not replace reading the official text published on legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. We assume no responsibility for any inaccuracies arising from the conversion of the original CLML XML to this format.