Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 8 para 13

Condition F: holding the interest in land as a bond asset

Schedule 8 paragraph 13 sets out Condition F, which requires that the party Q must hold the interest in land as a bond asset until the bond comes to an end.

• Condition F is one of the conditions that must be met for a transaction to qualify for relief under the alternative finance provisions in Schedule 8.
• The condition requires that Q (typically the financial institution) holds the interest in the land as a bond asset throughout the life of the bond arrangement.
• The interest in land must remain classified as a bond asset — it cannot be removed from that status or used for other purposes during the bond's term.
• This holding requirement continues until the bond terminates, at which point the condition ceases to apply.