Revenue Scotland has U-turned on its decision to levy land business transaction tax (LBTT) on in-specie transfers, a change it first made in October 2016.
A technical note published on 28 December confirmed Revenue Scotland has reversed its position on LBTT on in-specie transfers, and that the change would apply retrospectively. The note said the department...
'Right thing to do'
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Retains platform and financial advice business