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

SCHEDULE 8 Relief for alternative finance investment bonds

PART 3 General conditions for operation of reliefs etc.

Condition G

14 (1) Condition G is that—

(a) before the end of the period of 30 days beginning with the date on which the interest in the land ceases to be held as a bond asset, that interest is transferred by Q to P (“the second transaction”), and

(b) the second transaction is effected not more than 10 years after the first transaction.

(2) The Scottish Ministers may by regulations amend sub-paragraph (1)(b) by substituting for the period mentioned there such other period as may be specified.