Land and Buildings Transaction Tax (Scotland) Act 2013 section Sch 13A para 1

The relief

Section Schedule 13A paragraph 1 provides an exemption from Land and Buildings Transaction Tax for land transactions that arise from amalgamations or transfers of engagements involving friendly societies and registered societies.

• Land transactions resulting from amalgamations or transfers of engagements between registered societies or friendly societies are exempt from LBTT.
• The exemption covers amalgamations of registered societies under the Friendly Societies Act 1974 and amalgamations of friendly societies under the Friendly Societies Act 1992.
• Transfers of engagements between registered societies or between friendly societies under the respective Acts are also exempt.
• The relief extends to transfers of engagements of a friendly society made under a direction from the appropriate authority.