Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 16 paragraph 11

Exception from withdrawal of group relief: relevant transfers of business or engagement

Schedule 16 paragraph 11 provides an exception to the withdrawal of group relief where the buyer leaves the group as a result of certain specified transfers of business involving building societies, friendly societies, or co-operative and community benefit societies and credit unions.

• Group relief is not withdrawn when the buyer leaves the seller's group as a consequence of a qualifying transfer of business, even if this occurs within three years of the original relieved transaction or under arrangements made within that period.
• A qualifying transfer of business includes transfers involving building societies under Schedule 22 paragraph 10 of the Act.
• Transfers of business involving friendly societies under Schedule 22 paragraph 11 of the Act also qualify for this exception.
• Transfers of business involving co-operative and community benefit societies or credit unions under Schedule 22 paragraph 12 of the Act are likewise covered.