LBTT3051Exemption for transactions in Co-Ownership Authorised Contractual Schemes (CoACS)
It is not necessary to notify Revenue Scotland of transactions in units in Co-Ownership Authorised Contractual Schemes (CoACS) where Scottish land and property is held as an underlying asset of the Scheme. This exemption applies to the following types of unit transaction:
- creation
- issue
- transfer
- redemption
- cancellation
The purchase of new property by a CoACS will remain notifiable to Revenue Scotland.
This is covered at Land and Buildings Transaction Tax (Scotland) Act 2013