Corporate Tax & Incentives

In case you haven’t already spotted it, on 6 August 2019 Revenue Scotland made a number of helpful changes to the new LBTT online system, including the following:

  1. ‘Return to Summary’ button – there is now a button which takes you straight back into the draft return rather than having to find the return again.
  2. Relevant Date/Effective Date are now both included on the return summary pagethe summary page for a draft return now shows both the relevant date and the effective date.
  3. Submission Receipt now includes the property details (but still has to be downloaded/saved when the return is submitted, not afterwards) – the submission receipt now includes all the necessary information, ie Transaction reference, Title number, Property address, Tenant and Description of transaction.
    Please note: currently the submission receipt is ONLY available immediately after the return is submitted and HAS to be downloaded/saved then. It cannot be downloaded from the system later.
  4. Returns are now listed with the most recent at the top – draft and submitted returns are now listed in reverse chronological order (most recent at the top).
  5. Lease Returns: £0 can now be entered where the rent value is ‘nil’ – an amount of £0 can now be entered by a user where the rent is nil.

More details are set out in the Revenue Scotland Service Design Circular.

If you have any questions about these changes or any other queries regarding LBTT, please get in touch with Isobel d’inverno at isobel.dinverno@brodies.com or Bob Langridge at bob.langridge@brodies.com

Claire Withers

Solicitor at Brodies LLP
Claire is a solicitor in our Corporate Tax and Incentives team.

Claire has been with the firm since 2015 working initially in our Real Estate team and then undertaking her traineeship with us. During this time, Claire gained valuable experience in corporate and personal tax, commercial real estate transactions and private client services.

Claire now advises on a range of tax matters with particular focus on the implications of commercial real estate transactions (including LBTT/SDLT/LTT, capital allowances and VAT) and the tax aspects of company acquisitions, disposals and restructurings.
Claire Withers