Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 10 paragraph 10

Business transfers relating to demutualisation of insurance companies

Paragraph 10 of Schedule 10 identifies arrangements that facilitate the transfer of all or part of a company's business to another company in the context of insurance company demutualisation, where stamp duty relief under the Finance Act 1997 is intended to apply.

• This paragraph covers arrangements designed to facilitate the transfer of a company's business (in whole or in part) to another company.
• The transfer must be one where stamp duty relief for demutualisation of insurance companies under section 96 of the Finance Act 1997 is intended to apply.
• The conditions for that stamp duty relief must also be intended to be met in relation to the transfer.
• Where both of these requirements are satisfied, the arrangements fall within the scope of this paragraph of Schedule 10.