Land and Buildings Transaction Tax (Scotland) Act 2013 section Sch 17 para 20

Transfers of chargeable interests from a partnership to a partner or connected person

Schedule 17, paragraph 20 sets out when Part 4 of the schedule applies, covering situations where a chargeable interest (such as land or buildings) is transferred out of a partnership to a current or former partner, or to someone connected with such a partner.

• Part 4 of Schedule 17 applies when a chargeable interest is transferred from a partnership to a person who is or has been a partner, or to someone connected with such a partner.
• Property that was partnership property before the partnership dissolved or ceased to exist is treated as still being partnership property until it is actually distributed.
• The transfer of the chargeable interest is referred to as "the land transfer" and "the partnership" means the partnership from which the interest is transferred.
• These rules are subject to any election made under paragraph 35, which allows property investment partnerships to disapply Part 4.