The purpose of this consultation is to gather views from stakeholders on amendment to the Land and Buildings Transaction Tax (Scotland) Act 2013 to allow Group relief to apply where:
and
The Cabinet Secretary for Finance and the Constitution has announced plans to bring forward legislation to address a specific issue which has emerged in relation to the group relief provisions in the Land and Buildings Transaction Tax (LBTT) legislation. The proposal to amend the legislation in response to this reflects the original policy intention that LBTT group relief arrangements should operate in a similar way to Stamp Duty Land Tax (SDLT) and the Scottish Government’s commitment to ensure Scotland remains an attractive place to invest and do business.
This consultation is intended to help ensure that the secondary legislation introduced to the Scottish Parliament on this matter fully addresses the issue, allowing for group relief to be claimed in the relevant circumstances once it is in effect.
Reflecting the technical nature of the issue, widespread awareness amongst relevant stakeholders and a wish to introduce legislation at the earliest sensible opportunity, the consultation will run for an abbreviated period of four weeks. Following this consultation, legislative proposals will be brought forward for scrutiny by the Scottish Parliament. Over the four weeks, the Scottish Government will complement the online consultation process with active engagement with stakeholders.
View the full consultation paper here
We will seek to amend legislation to allow availability of Group Relief for LBTT where there is an extant Scottish share pledge on property transferred within a corporate group structure.
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