Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 11 paragraph 42

Interpretation

Paragraph 42 of Schedule 11 defines key terms used throughout the schedule dealing with group relief, reconstruction relief and acquisition relief.

• The term "arrangements" is given a deliberately wide definition for the purposes of this schedule.
• Arrangements include any scheme, agreement or understanding, regardless of whether they are legally enforceable.
• "Non-redeemable shares" are defined simply as shares that are not redeemable shares.
• These definitions apply throughout Schedule 11 and are relevant when determining eligibility for, and potential withdrawal of, reliefs.