Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 17 paragraph 19

Structure of Part 5: transfers from a partnership

Paragraph 19 of Schedule 17 provides a guide to the layout and content of Part 5, which deals with land transactions involving the transfer of a chargeable interest out of a partnership.

• Part 5 of Schedule 17 covers situations where a chargeable interest in land is transferred from a partnership to another party.
• Paragraphs 20 to 26 set out the general rules for calculating the LBTT charge on such transfers, including how partnership shares are attributed to partners.
• Paragraph 27 contains special rules for transfers of a chargeable interest from one partnership to another partnership.
• Paragraph 28 contains special rules where the partnership transferring the interest consists entirely of bodies corporate (i.e. companies).