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:

Pages in this Section...

Land transaction

Defining a land transaction for LBTT purposes.
Acquisition and disposal of chargeable interest

Circumstances under which a chargeable interest is acquired or disposed
The effective date

The effective date for LBTT.
Contract and conveyance

Contract and conveyance in a LBTT transaction.
Contract providing for conveyance to third party

Contract providing for conveyance to third party.
Options and rights of pre-emption

LBTT guidance on options and rights of pre-emption.
Flowchart of LBTT transaction

Flowchart illustrating how LBTT works.
The relevant date

Section 36 LBTT(S)A 2013 defines what the relevant date is for different

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