Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 10, paragraph 30

Change in control of the buyer

Schedule 10, paragraph 30 defines what constitutes a change in control of the buyer for the purposes of the deferred payment provisions in LBTT.

• A change in control occurs when someone who controls the buyer (whether alone or jointly with others) stops having that control.
• A change in control also occurs when a new person gains control of the buyer, whether alone or jointly with others.
• The winding up of the buyer company is treated as a change in control.
• These provisions are relevant because a change in control can trigger consequences for deferred LBTT payments, such as requiring the outstanding tax to become payable.