Land and Buildings Transaction Tax (Scotland) Act 2013 section Sch 10A para 4

Qualifying conditions for sub-sale development relief

Schedule 10A paragraph 4 sets out the conditions that must be met for a qualifying sub-sale to be eligible for sub-sale development relief from Land and Buildings Transaction Tax.

• The first contract and the qualifying sub-sale must be substantially performed or completed at the same time and in connection with each other.
• Significant commercial development of the property involved in the qualifying sub-sale must be completed within five years of the effective date of the qualifying sub-sale.
• An assignation, sub-sale, or other transaction that transfers the right to call for a conveyance to someone other than the second buyer does not count as substantial performance of the qualifying sub-sale.
• Both the timing condition and the development condition must be satisfied for the relief to apply.