Land and Buildings Transaction Tax (Scotland) Act 2013 section 34

Schedule 11 paragraph 34: meaning of change of control

Section 34 defines what it means for control of a company to change, for the purposes of Part 3 of Schedule 11.

• A change of control occurs when a company comes under the control of a different person from before.
• A change of control also occurs when the number of persons controlling the company changes.
• A change of control occurs where two or more persons gain control and at least one of them was not previously a controlling person.
• This definition is relevant to the rules on group relief and the withdrawal of that relief under Schedule 11.