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Revenue Scotland prepares for three-year lease reviews

Revenue Scotland prepares for three-year lease reviews
Published on: 02 March 2018
Published by: LexisPSL
  • Revenue Scotland prepares for three-year lease reviews
  • Who has to submit a further return under paragraph 10 of Schedule 19 to the Land and Buildings Transaction Tax (Scotland) Act 2013 (LBTT(S)A 2013)?
  • When do further returns under LBTT(S)A 2013 have to be made, and when will Revenue Scotland see the first of these further returns?
  • How do tenants make a further return, and what must this return contain?
  • How will a tenant know that they are obliged to make a further return?
  • Does the obligation to make a further return apply to all leases of commercial property in Scotland?
  • What is the position if a tenant has taken an assignation of a lease?
  • Has Revenue Scotland issued any guidance on further returns?

Article summary

Tax analysis: Isobel d’Inverno, director of corporate tax at Brodies LLP in Edinburgh, offers practical advice to tenants and their solicitors in the lead-up to the first three-year review (1 April 2018) of land and buildings transaction tax (LBTT) chargeable on leases in Scotland. or take a trial to read the full analysis.

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