# Land and Buildings Transaction Tax (Scotland) Act 2013, Paragraph 25


(1) A “property trader” means an entity listed in sub-paragraph (2) that carries on the business of buying and selling dwellings.
(2) The entities are—
(a) a company,
(b) a limited liability partnership,
(c) a partnership whose partners are all either companies or limited liability partnerships.
(3) A “principal”—
(a) in relation to a company, means a director,
(b) in relation to a limited liability partnership, means a member,
(c) in relation to a partnership mentioned in sub-paragraph (2)(c) means a partner or a principal of a partner.

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Source: https://www.legislation.gov.uk/asp/2013/11/schedule/4/paragraph/25 (the official version)
Page: https://openlegislation.uk/land-and-buildings-transaction-tax-scotland-act-2013/schedule-4/paragraph-25
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.