Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 10 paragraph 40

Change in the control of a company

Paragraph 40 of Schedule 10 defines what constitutes a change in control of a company for the purposes of the three-year clawback provisions relating to group relief from LBTT.

• A change in control occurs when someone who controls the company (whether alone or jointly with others) ceases to have that control.
• A change in control also occurs when a person newly obtains control of the company, whether alone or with others.
• The winding up of the company is itself treated as a change in control.
• Any of these events occurring within the clawback period can trigger withdrawal of group relief previously claimed on a land transaction.