Land and Buildings Transaction Tax (Scotland) Act 2013 section Schedule 17 paragraph 15

Who counts as a "relevant owner" when land is transferred to a partnership

Schedule 17, paragraph 15 defines who qualifies as a "relevant owner" for the purposes of calculating the sum of the lower proportions (SLP) under paragraph 14, and clarifies how joint ownership is treated in that calculation.

• A relevant owner is someone who held a share of the property immediately before the transfer to the partnership and who, immediately after the transfer, is either a partner or connected with a partner.
• Both conditions must be met: a pre-transfer ownership interest and a post-transfer connection to the partnership.
• Where persons hold a chargeable interest as joint owners (i.e. without distinct shares), they are treated as if they were common owners holding equal shares for the purposes of the SLP calculation.
• This deemed equal-share treatment applies both to the definition of relevant owner in paragraph 15 and to the SLP calculation in paragraph 14.