The first cycle of three-yearly returns for non-residential property leases under Land and Buildings Transaction Tax (LBTT) will start on 1 April 2018. Revenue Scotland has started issuing reminder letters to tenants and you may already have received such a letter informing you of the obligation to submit further returns.LBTT replaced Stamp Duty Land Tax (SDLT) in Scotland on 1 April 2015 and is payable on the purchase of both residential and commercial land and buildings. LBTT also applies to non-residential leases including commercial and agricultural leases. And one of the big differences with the new regime is the requirement for tenants to submit further LBTT returns to Revenue Scotland throughout the duration of the lease.Read entire article here.