LBTT2011 - Cases where conditions for exemption are not fully met

LBTT guidance on determining the chargeable consideration in a land transaction where the conditions of certain exemptions are not fully met.

Where a land transaction would otherwise be an exempt transaction under paragraph 6 of schedule 1 to the LBTT(S)A 2013 (assents i.e. agreements, and appropriations by personal representative – see LBTT3008) but for the person acquiring the property giving consideration for it, the chargeable consideration for the transaction does not include the amount of any secured debt assumed (debt that, immediately after the death of the deceased person, is secured on the property).

Where a land transaction would otherwise be an exempt transaction under paragraph 7 of schedule 1 to the LBTT(S)A 2013 (variation of testamentary dispositions etc. – see LBTT3008) but for a failure to meet the condition that no consideration can be given for the transaction (other than the variation of another disposition), the chargeable consideration for the transaction does not include the making of any variation of another disposition.

LBTT(S)A 2013 schedule 2 paragraph 9.

Ref ID: 
LBTT2011
Archive Date: 
8 March 2015
Last updated: 
8 March 2015
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