LBTT definition
Examples of LBTT in a sentence
The Tenant will be responsible for any LBTT payable in respect of the transaction contemplated by the Missives and for the Lease Costs [and for the cost of registering the Lease in the Land Register of Scotland].
In the usual manner, the ingoing tenant will pay the Land- lord’s reasonably incurred legal expenses, as well as any applicable LBTT and registrations dues.
If the transaction contemplated by the Missives is notifiable for LBTT purposes, the Tenant will submit the LBTT return and pay any LBTT due on the grant of the Lease to Revenue Scotland within [5] Business Days of the effective date of the Lease for LBTT purposes.
The Tenant will provide the Landlord's Solicitor with a copy of the electronic submission receipt for the LBTT return and confirm that any LBTT has been paid (or arrangements satisfactory to Revenue Scotland initiated) as soon as reasonably practicable.
Each party is to be responsible for their own legal costs incurred in connection with this transaction with the ingoing tenant to be responsible for Land and Buildings Transaction Tax (LBTT), registration fees and any VAT incurred thereon.
In the usual manner, the ingoing tenant will pay the Landlord’s reasonably incurred legal expenses, as well as any applicable LBTT and registrations dues.
For the avoidance of doubt the ingoing tenant will be liable for LBTT, Extract Copies and VAT thereon.
The occupier can potentially benefit from 100% business rates relief Each party will be responsible for their own legal costs with the ingoing tenant / purchaser liable for LBTT and registration dues as applicable.
The Tenant must indemnify the Landlord for any loss suffered as a result of the Tenant failing to submit the LBTT return timeously.
STAMP DUTY OR LBTT (SCOTLAND) A tax, paid by the buyer, that is calculated on the percentage rate applicable to each portion of the sale price.