Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 10 paragraph 11

Definitions for group relief

Schedule 10, paragraph 11 defines key terms used in the group relief provisions of the Act, specifically "control" and "group company".

• The term "control" takes its meaning from section 1124 of the Corporation Tax Act 2010, which broadly means holding the majority of share capital, voting rights, or rights to income or assets.
• A "group company" is any company that belongs to the same corporate group as both the seller and the buyer at the effective date of the transaction.
• These definitions underpin the rules for determining whether a land transaction qualifies for group relief from LBTT.
• The effective date of the transaction is the key point in time at which group membership is tested.

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