Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 11 paragraph 1

Introduction to relief for company reconstructions and acquisitions

Schedule 11, paragraph 1 introduces the schedule that provides relief from LBTT for certain land transactions connected with company reconstructions and acquisitions.

• Schedule 11 provides LBTT relief for certain property transactions arising from company reconstructions and acquisitions.
• The schedule covers two main types of relief: reconstruction relief and acquisition relief, each with its own qualifying conditions.
• Provisions are included for circumstances in which the relief may be withdrawn and the process for recovering the tax that then becomes due.
• The schedule also contains definitions of the key terms used throughout its provisions.