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

The relief

Section Sch 13B paragraph 1 provides an exemption from Land and Buildings Transaction Tax for land transactions arising from building society amalgamations or transfers of engagements.

• Land transactions resulting from building society amalgamations or transfers of engagements are exempt from LBTT.
• Amalgamations covered are those carried out under section 93 of the Building Societies Act 1986.
• Transfers of engagements covered are those carried out under section 94 of the Building Societies Act 1986.
• The exemption applies whether the land transaction is effected directly by, or as a consequence of, the amalgamation or transfer.