LBTT1001 - How the tax works

Chapter 1 of the LBTT legislation guidance covering how Land and Buildings Transaction Tax works.

The guidance in this chapter is set out as follows:

Defining a land transaction for LBTT purposes.

Circumstances under which a chargeable interest is acquired or disposed of.

The effective date for LBTT.

Contract and conveyance in a LBTT transaction.

Contract providing for conveyance to third party.

LBTT guidance on options and rights of pre-emption.

Flowchart illustrating how LBTT works.