1(1)This schedule makes provision for relief in the case of certain land transactions connected to alternative finance investment bonds.S
(2)It is arranged as follows—
Part 2 provides that certain events relating to a bond are not to be treated as chargeable transactions (except in certain cases),
Part 3 sets out general conditions for the operation of the reliefs in Part 4,
Part 4 provides for relief in the case of certain transactions (and withdrawal of that relief),
Part 5 makes provision about supplementary matters including when the reliefs in Part 4 are not available.
Commencement Information
I1 Sch. 8 para. 1 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2
2SIn this schedule, “alternative finance investment bond” means arrangements to which section 564G of the Income Tax Act 2007 (c.3) (investment bond arrangements) applies.
Commencement Information
I2 Sch. 8 para. 2 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2
3SIn this schedule—
“bond assets”, “bond-holder”, “bond-issuer” and “capital” have the meaning given by section 564G of the Income Tax Act 2007 (c.3),
“prescribed” means prescribed in regulations made by the Scottish Ministers,
“qualifying interest” means a major interest in land other than a lease for a period of 21 years or less.
Commencement Information
I3 Sch. 8 para. 3 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2