This relief is provided by the provisions of schedule 13B to the LBTT(S)A 2013 which is inserted by regulation 2(2)(a) of The Land and Buildings Transaction Tax (Addition and Modification of Reliefs) (Scotland) Order 2015.
Description of relief
In certain situations (see further below), full relief can be claimed for a land transaction involving building societies. ‘Building societies’ in this context takes the meaning given under section 119(1) of the Building Societies Act 1986: ‘a building society incorporated (or deemed to be incorporated) under that Act’
A land transaction effected by or in consequence of any of the following is exempt from charge:
- an amalgamation of two or more building societies under section 93 of the Building Societies Act 1986 (amalgamations); or
- a transfer of engagements between building societies under section 94 of that Act (transfer of engagements).
Claiming the relief
To claim this relief see the guidance on 'How to make a LBTT return and pay tax' which is available separately on our website.