Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 17 paragraph 25

Partnership share attributable to a partner

Schedule 17, paragraph 25 sets out the rules for determining what partnership share is attributable to a partner when calculating the sum of the lower proportions (used in Step 4 of the charge calculation for transfers out of a partnership).

• A partner's partnership share is set to zero if any LBTT due on the original transfer of the relevant property into the partnership remains unpaid.
• A partner's partnership share is also set to zero if the partner ceased to be a partner before the effective date of the original transfer of the property into the partnership.
• In all other cases, the detailed rules in paragraph 26 apply to determine the partnership share attributable to the partner.
• The "relevant chargeable interest" is either the property leaving the partnership, or — where a new interest is being created — the property out of which the new interest is granted.

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