Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 2A paragraph 7

Trustees of settlements

Schedule 2A paragraph 7 explains how the ADS rules apply when the buyer in a land transaction is acting as a trustee of a settlement and a beneficiary of that settlement has a relevant interest in a dwelling being purchased.

• The paragraph applies where a buyer is acting as trustee of a settlement and a beneficiary has or will have a relevant interest in a dwelling that is the subject of the transaction.
• For certain tests — including whether the beneficiary already owns a dwelling, whether the transaction replaces the beneficiary's only or main residence, and for joint buyer and connected person rules — references to "the buyer" are read as references to the beneficiary instead.
• For other tests — including the minimum consideration threshold and the repayment conditions relating to disposal of a previous main residence — references to "the buyer" are read as including the beneficiary alongside the trustee.
• The effect is that a beneficiary's existing property interests and personal circumstances are taken into account when determining whether the ADS applies to a purchase made by a trustee on the beneficiary's behalf.