LBTT5008 – Co-operative and Community Benefit Societies
For the avoidance of doubt, in terms of Co-operative and Community Benefit Societies the vesting of property in connection with the following provisions of the Co-operative and Community Benefit Societies Act 2014 (as amended) is not a land transaction and no LBTT is chargeable:
- registration of a society under section 3 of that Act;
- amalgamation of societies under section 109 of that Act;
- conversion of a society into, or amalgamation with, a company under section 112 of that Act; and
- conversion of a company into a society under section 115 of that Act.
However, vesting of property in a society or a company in consequence of a transfer of engagements under section 110 or 112 of that Act is a land transaction. LBTT will be chargeable in these circumstances.
Please note that this was previously called Industrial and Provident Societies Act 1965