The legislation stipulates certain occasions which trigger a review of the tax chargeable and they are listed under Sch. 19, para. 10(1), and the first occasion under para. 10(1)(a) is the obvious one, namely on the grant of a lease. The tenant (the ‘buyer’ as referred to in the legislation) is required to make a return which triggers the LBTT review date, on every third anniversary of the effective date of the transaction.

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