In-specie pension transfers not subject to LBTT in Scotland

In a recent technical note Revenue Scotland confirmed that it has reversed its position on Land and Buildings Transaction Tax (LBTT) on in-specie pension transfers and the change will apply retrospectively.

This brings the position back into line with the HMRC treatment in relation to Stamp Duty Land Tax (SDLT) – the equivalent tax in England, Wales and N. Ireland.

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