Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 3 para 2

Sale and leaseback arrangement

Schedule 3 paragraph 2 defines what constitutes a sale and leaseback arrangement for the purposes of LBTT.

• A sale and leaseback arrangement involves two connected transactions between two parties.
• The first step (the "sale") is where person A transfers or grants a major interest in land to person B.
• The second step (the "leaseback") is where person B then grants a lease of that same interest back to person A.
• Both elements — the sale and the leaseback — must be part of the same arrangement to qualify under this definition.