# Land and Buildings Transaction Tax (Scotland) Act 2013, Paragraph 3


(1) This schedule applies to a chargeable transaction if the following conditions are satisfied—
(a) the subject-matter of the transaction consists of or includes the acquisition of ownership of a dwelling,
(b) the relevant consideration for the transaction is £40,000 or more, and
(c) the buyer—
(i) is not an individual, or
(ii) is an individual and sub-paragraph (2) or (5) applies.
(2) This sub-paragraph applies if the acquisition is made in the course of a business of the individual the sole or main activity of which is investing or dealing in chargeable interests.
(3) Sub-paragraph (2) of paragraph 31 of schedule 17 applies for the purposes of sub-paragraph (2) of this paragraph as it applies for the purposes of paragraph 31(1) of that schedule.
(4) In sub-paragraph (2), the reference to a business of the individual includes a reference to a business of a partnership of which the individual is a partner.
(5) This sub-paragraph applies if the individual is making the acquisition as trustee under a settlement and, in relation to any dwelling that is or forms part of the subject-matter of the transaction, there is no interested beneficiary.
(6) For the purposes of sub-paragraph (5), a beneficiary under the settlement is an interested beneficiary in relation to a dwelling if the beneficiary has or will have a relevant interest in the dwelling.

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Source: https://www.legislation.gov.uk/asp/2013/11/schedule/2A/paragraph/3 (the official version)
Page: https://openlegislation.uk/land-and-buildings-transaction-tax-scotland-act-2013/schedule-2A/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.