Land and Buildings Transaction Tax (Scotland) Act 2013 section 45

References to the transfer of a chargeable interest

Schedule 17 paragraph 45 clarifies what is meant by the "transfer" of a chargeable interest in the context of partnerships, extending it beyond straightforward transfers to include other transactions.

• A "transfer" of a chargeable interest is not limited to a simple sale or conveyance from one party to another.
• It also covers the creation of a new chargeable interest, such as the granting of a new lease or other right over land.
• Renunciation or release of a chargeable interest — where a party gives up their rights — is also treated as a transfer.
• Any variation of an existing chargeable interest counts as a transfer for the purposes of the partnership provisions.