Paragraph 3 Partial reliefF1

(1)

This paragraph applies to a land transaction if—

(a)

the proportion of the chargeable consideration for the transaction that is attributable to qualifying green freeport land (“the relevant proportion”) is less than 90% but at least 10%, and

(b)

the effective date of the transaction is within the period beginning on 1 October 2023 and ending on 30 September 2028.

(2)

The tax chargeable in respect of the transaction is reduced by the relevant proportion.

Annotations

Textual amendments

F1: Sch. 16D inserted (1.10.2023) by The Land and Buildings Transaction Tax (Green Freeports Relief) (Scotland) Order 2023 (S.S.I. 2023/280), art. 1(1), sch.