Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 8, paragraph 15

Exemption from charge for the first transaction in an alternative finance investment bond arrangement

Schedule 8, paragraph 15 sets out the conditions under which the first transaction in an alternative finance investment bond arrangement is exempt from LBTT.

• The first transaction in a bond arrangement is exempt from LBTT provided certain conditions are met.
• The transaction must relate to an interest in land located in Scotland.
• All of conditions A to C must be satisfied within 30 days of the effective date of the transaction.
• The exemption is subject to additional rules where the bond asset is replaced by different land, or where the bond holder acquires control of the underlying asset.