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

SCHEDULE 11 Reconstruction relief and acquisition relief

PART 4 Withdrawal of relief

Case where relief not withdrawn: controlling loan creditor

21 Relief under Part 2 or Part 3 of this schedule is not withdrawn where—

(a) control of the acquiring company changes as a result of a loan creditor (within the meaning of section 453 of the Corporation Tax Act 2010 (c.4)) becoming, or ceasing to be, treated as having control of the company, and

(b) the other persons who were previously treated as controlling the company continue to be so treated.