Paragraph 1 Eligibility for reliefF1

(1)

Relief may be claimed in respect of any chargeable transaction if—

(a)

it is an acquisition of a major interest in land (see section 60),

(b)

the land consists entirely of residential property and includes a dwelling,

(c)

the buyer, or (if more than one) each of the buyers, is a first-time buyer who intends to occupy the dwelling as the buyer’s only or main residence,

(d)

the transaction is not one of a number of linked transactions, and

(e)

the transaction is not one to which schedule 2A (additional amount: transactions relating to second homes etc.) applies.

(2)

Sub-paragraph (1)(d) does not apply if the main subject-matter of the other linked transaction is land referred to in paragraphs 26 or 27 of schedule 5 (multiple dwellings relief: what counts as a dwelling) and the dwelling referred to in those paragraphs is the dwelling mentioned in sub-paragraph (1)(b).

(3)

Where there is a linked transaction (not subject to the exception in sub-paragraph (2)) following relief being claimed under this paragraph, the relief is withdrawn.

Annotations

Textual amendments

F1: Sch. 4A inserted (30.6.2018) by The Land and Buildings Transaction Tax (First-Time Buyer Relief) (Scotland) Order 2018 (S.S.I. 2018/221), art. 1(1), sch. (with art. 6)