The Scottish Parliament has finally approved the much anticipated draft legislation which extends the transition period of the Register of Persons Holding a Controlled Interest in Land (RCI) from 31 March 2023 to 1 April 2024.
All those in scope of the RCI, including trustees, trusts and unincorporated associations such as voluntary groups, village halls, sports or youth clubs and community groups, are still expected to comply, however the 12-month extension means they now have until 1 April 2024 to make a submission before offence provisions are commenced.
The RCIL continues to be open to submissions.
FAQs on the extension can be read here.
The reasons given for the extension are that “Ministers listened to concerns raised by some stakeholders, and recognised the wider challenges caused by issues such as Brexit, the pandemic, and the current economic pressures. It was concluded that extending the transitional period by 12 months will ease the burden and give those in scope of the RCI more time to prepare.”
Please contact the The Bridge / Borders TSI if you need advice on RCI.
