LBTT3017 - Alternative property finance relief

Overview of LBTT guidance on tax relief where alternative property finance arrangements are used to finance the acquisition of a chargeable interest.

This relief is provided by the provisions of schedule 7 to the LBTT(S)A 2013.

Where alternative property finance arrangements are used to finance an acquisition, to avoid taxing the transaction more than once, relief from LBTT is available where one of three different sets of alternative property finance arrangements is in place:

LBTT(S)A 2013 schedule 7 part 2

For the purposes of this relief:

  • ‘Financial institution’ has the meaning given by section 564B of the Income Tax Act 2007, omitting section 564B(1)(d);
  • ‘Arrangements’ include any agreements, understanding, scheme, transaction or series of transactions whether these are legally enforceable or not; and
  • references to a person are to be read (in relation to times after the death of the person concerned) as references to the person’s personal representatives.

LBTT(S)A 2013 schedule 7 part 5

Ref ID: 
Archive Date: 
16 March 2015
Last updated: 
16 March 2015
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