Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 10A paragraph 3

Qualifying sub-sale

Schedule 10A paragraph 3 sets out the conditions that must be met for a sub-sale to qualify as a "qualifying sub-sale" for the purposes of sub-sale development relief.

• A qualifying sub-sale occurs when a first buyer contracts to sell all or part of the subject-matter of the original purchase contract to a second buyer.
• The second buyer must become entitled to call for a conveyance of all or part of the subject-matter directly to themselves.
• Immediately before entering into the sub-sale, the first buyer must have held the right under the original contract to call for a conveyance of the property.
• All three conditions must be satisfied for the sub-sale to qualify for relief under these provisions.