Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 8 paragraph 16

Withdrawal of relief for alternative finance investment bonds

Schedule 8 paragraph 16 sets out the circumstances in which the LBTT relief granted under paragraph 15 for alternative finance investment bond transactions is withdrawn.

• Relief is withdrawn if the land interest is transferred back from Q to P without conditions E and F (relating to the nature of the arrangement and the transfer back of the land) having been satisfied
• Relief is withdrawn if the specified time period expires without conditions E and F both having been met
• Relief is withdrawn if it becomes apparent at any point, for any other reason, that any of conditions E, F or G cannot or will not be fulfilled
• Relief is also withdrawn if condition D (relating to the initial acquisition requirements) is not met