The Land and Buildings Transaction Tax (Relief from Additional Amount) (Scotland) Act 2018 gives relief from the land and buildings transaction tax (LBTT) additional dwelling supplement with retrospective effect from 1 April 2016 for certain family units purchasing a main residence to replace a f
The Land and Buildings Transaction Tax (Relief from Additional Amount) (Scotland) Act 2018 gives relief from the land and buildings transaction tax (LBTT) additional dwelling supplement with retrospective effect from 1 April 2016 for certain family units purchasing a main residence to replace a former main residence.
The Act gives effect to the Scottish government’s original policy intention, ensuring relief can be claimed where:
spouses, civil partners or cohabitants jointly bought a dwelling which they have both occupied as their main residence;
in the 18 months prior to the purchase, they sold a dwelling that they both occupied as their previous main residence, but this was owned by only one of them; and
at the effective date of the new joint purchase, either buyer owned or was deemed to own a further dwelling.
The Act received Royal Assent on 22 June and came into force on 23 June. It gives retrospective effect to the LBTT (Additional Amount - Second Homes Main Residence Relief) (Scotland) Order, SSI 2017/233, which only provided relief with effect from 30 June 2017.
The relief now applies to transactions with an effective date on or after 1 April 2016, where the contract was entered into on or after 28 January 2016.
Revenue Scotland has also published an information leaflet providing guidance for those affected by the changes on how to claim repayment of additional dwelling supplement.
The Land and Buildings Transaction Tax (Relief from Additional Amount) (Scotland) Act 2018 gives relief from the land and buildings transaction tax (LBTT) additional dwelling supplement with retrospective effect from 1 April 2016 for certain family units purchasing a main residence to replace a f
The Land and Buildings Transaction Tax (Relief from Additional Amount) (Scotland) Act 2018 gives relief from the land and buildings transaction tax (LBTT) additional dwelling supplement with retrospective effect from 1 April 2016 for certain family units purchasing a main residence to replace a former main residence.
The Act gives effect to the Scottish government’s original policy intention, ensuring relief can be claimed where:
spouses, civil partners or cohabitants jointly bought a dwelling which they have both occupied as their main residence;
in the 18 months prior to the purchase, they sold a dwelling that they both occupied as their previous main residence, but this was owned by only one of them; and
at the effective date of the new joint purchase, either buyer owned or was deemed to own a further dwelling.
The Act received Royal Assent on 22 June and came into force on 23 June. It gives retrospective effect to the LBTT (Additional Amount - Second Homes Main Residence Relief) (Scotland) Order, SSI 2017/233, which only provided relief with effect from 30 June 2017.
The relief now applies to transactions with an effective date on or after 1 April 2016, where the contract was entered into on or after 28 January 2016.
Revenue Scotland has also published an information leaflet providing guidance for those affected by the changes on how to claim repayment of additional dwelling supplement.
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