LBTT5008 - Industrial and Provident Societies

LBTT guidance on Industrial and Provident Societies.

For the avoidance of doubt, in terms of Industrial and Provident Societies the vesting of property in connection with the following provisions of the Industrial and Provident Societies Act 1965 (as amended) is not a land transaction and no LBTT is chargeable:

  • registration of a society under section 2 of that Act;
  • amalgamation of societies under section 50 of that Act;
  • conversion of a society into, or amalgamation with, a company under section 52 of that Act; and
  • conversion of a company into a society under section 53 of that Act.

However, vesting of property in a society or a company in consequence of a transfer of engagements under section 51 or 52 of that Act is a land transaction. LBTT will be chargeable in these circumstances.

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