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 A

8 Condition A is that one person (P) and another (Q) enter into arrangements under which—

(a) P transfers to Q a qualifying interest in land (“the first transaction”), and

(b) P and Q agree that when the interest ceases to be held by Q as mentioned in paragraph 9(b), Q will transfer the interest to P.