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JGM, Solicitor
Category: Law
Satisfied Customers: 12081
Experience:  30 years as a practising solicitor.
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HiI am reviewing a lease property in Scotland.

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hi I am reviewing a lease for a property in Scotland. LBTT meaning Land and Buildings Tax chargeable under the Land and Buildings Transaction Tax ( Scotland) Act 2013. When is the tax due, is it based on rent, building size? Square foot of building is 1000 sq foot. Rent payable is £6850 What is required if anything to submit LBTT return? Terry XXXXXXXXXXXX

Thank you for your question.
LBTT is calculated on the rental and the duration of the lease and an online return has to be made by someone registered with Revenue Scotland, usually a solicitor. The size of the building is not relevant.
There is a lease calculator on the Revenue Scotland website which will give you the exact amount payable in your case. It may be, depending on duration, that nothing is due as the rent is quite low. A return has to be submitted however even if it is a NIL return, so that the lease can then be registered in the Books of Council and Session.
I hope that helps.
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