Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 11 paragraph 35

Definitions used in this Part of Schedule 11

Paragraph 35 of Schedule 11 defines three key terms used in this Part of the schedule: "control", "exempt intra-group transfer", and "relevant associated company".

• The meaning of "control" follows the definition used for close companies in sections 450 and 451 of the Corporation Tax Act 2010.
• An "exempt intra-group transfer" is a transfer of shares between associated companies that is exempt from stamp duty under section 11 of the Finance Act (Northern Ireland) 1954.
• A "relevant associated company" is a company that was controlled by the acquiring company immediately before the change of control took place.
• To qualify as a relevant associated company, control of that subsidiary must also change as a consequence of the change of control of the acquiring company itself.