Land and Buildings Transaction Tax (Scotland) Act 2013 (asp 11)

SCHEDULE 11 Reconstruction relief and acquisition relief

PART 4 Withdrawal of relief

Withdrawal of relief on subsequent non-exempt transfer

24 This paragraph applies where the acquiring company or a relevant associated company, at that time (“the relevant time”), holds a chargeable interest—

(a) that was transferred to the acquiring company by the relevant transaction, or

(b) that is derived from an interest so transferred,

and that has not subsequently been transferred at market value under a chargeable transaction in relation to which relief under Part 2 or Part 3 of this schedule was available but was not claimed.