Part 1 Disapplication of Stamp Duty Land Tax to Scotland
Scotland Act 2012 (2012 c 11) | Legislation

SCHEDULE 3 Scottish Tax on Land Transactions: Consequential Amendments

Section 29

Part 1 Disapplication of Stamp Duty Land Tax to Scotland

Finance Act 1931

1

(1)     Section 28 of the Finance Act 1931 (production to Commissioners of instruments transferring land) is amended as follows.

(2)     In subsection (3), omit “or†after paragraph (a) and after paragraph (b) insert—

“; or

(c)     to a Scottish transaction.â€.

(3)     After subsection (3) insert—

“(3A)     In subsection (3) “Scottish transaction†means the acquisition of—

(a)     an estate, interest, right or power in or over land in Scotland, or

(b)     the benefit of an obligation, restriction or condition affecting the value of any such estate, interest, right or power.â€.

Finance Act 2003

2

The Finance Act 2003 is amended as follows.

3

Omit section 44(9A)(b) (application of provisions relating to missives of let etc).

4

In section 48 (chargeable interests)—

(a)     in subsection (2)(c) omit “in England and Wales or Northern Irelandâ€;

(b)     omit subsection (4);

(c)     in subsection (5) for “the United Kingdom†substitute “England and Wales or Northern Irelandâ€.

5

In section 55(5) (additional provisions determining amount of tax chargeable)—

(a)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Proprietary estoppel

Proprietary estoppelThis Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice

LEXISNEXIS

PRA Rulebook—introduction for the insurance and reinsurance sector

PRA Rulebook—introduction for the insurance and reinsurance sectorOn 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise

LEXISNEXIS

Rescission of a contract

Rescission of a contractWhat is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual

LEXISNEXIS

Forming enforceable contracts—consideration

Forming enforceable contracts—considerationThis Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in