Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 10 paragraph 46

"Ordinary share capital"

Paragraph 46 of Schedule 10 defines the term "ordinary share capital" as used in the group relief and other provisions of the Act.

• Ordinary share capital means all issued share capital of a company, regardless of how it is labelled or described.
• Shares that only carry a right to a fixed-rate dividend, with no further entitlement to share in profits, are excluded from the definition.
• This distinction separates shares that participate in the company's variable profits from those that behave more like fixed-return investments.
• The definition is important when determining group relationships and ownership thresholds for LBTT relief purposes.