LAND BUILDINGS TRANSACTION TAX CONSULTATION

Posted on 16 July 2012

As part of their increased obligations under the Scotland Act 2012, the Scottish Parliament are due to take over responsibility for tax on land transactions from April 2015, when the current UK Stamp Duty Land Tax will be replaced.

The Scottish Government has produced a consultation paper and is inviting comments and suggestions on this until 30 August 2012. Public consultation events will also be held as follows:- 

Aberdeen – 18th July, 1pm - 4.30pm
Perth – 20th July 10am - 1.30pm
Glasgow – 13th August 1pm - 4.30pm

The format of the above events will be a short presentation from the Land and Buildings Transaction Team with a question and answer session, followed by break-out sessions where participants will have the opportunity to discuss a variety of topics, followed by a short concluding presentation entitled “what happens next”. 

The break-out sessions can be selected from the following list depending on expressions of interest from those present at each meeting:-
administering the replacement tax;
anti-avoidance measures;
commercial, rural and residential leases;
companies, trusts and partnerships;
exemptions and reliefs;
structure of the tax - slab or progressive. 

Events are open to all but booking is essential. If you would like to attend an event please e-mail your details and the three topics (listed in order of preference) which you would most like to discuss to lbtt@scotland.gsi.gov.uk.