Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 11 paragraph 25

Relief under Part 2 or Part 3 of this schedule

Paragraph 25 of Schedule 11 sets out the circumstances in which reconstruction relief or acquisition relief (granted under Parts 2 or 3 of Schedule 11) can be withdrawn or partially withdrawn where there has been a subsequent change of control linked to a share transfer.

• Reconstruction relief (Part 2) or acquisition relief (Part 3) may be clawed back in full or in part after the original land transaction.
• Withdrawal is triggered when control of the company that originally acquired the land changes hands as a result of a share transfer to another company.
• The share transfer to that other company must itself be one to which share acquisition relief applies.
• The detailed rules governing when and how the relief is actually withdrawn are contained in paragraphs 26 to 28 of Schedule 11, and both conditions must be met for withdrawal to occur.