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

SCHEDULE 18 S Trusts

PART 4 S Transactions involving settlements

Reallocation of trust property as between beneficiaries S

13 S Paragraph 14 applies where—

(a) the trustees of a settlement reallocate trust property in such a way that a beneficiary acquires an interest in certain trust property and ceases to have an interest in other trust property, and

(b) the beneficiary consents to ceasing to have an interest in that other property.

Commencement Information

I1 Sch. 18 para. 13 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

14 S The fact that the beneficiary gives consent does not mean that there is chargeable consideration for the acquisition.

Commencement Information

I2 Sch. 18 para. 14 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2