Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 17 paragraph 26

Determining a partner's partnership share

Paragraph 26 of Schedule 17 sets out a three-step method for calculating the partnership share attributable to a partner when this provision applies, taking into account the partner's original share, any subsequent increases, and any decreases.

• The starting point is the partner's actual partnership share on the relevant date — either when the chargeable interest was transferred to the partnership or when the partner joined, whichever is later.
• Any increases in the partner's share between the relevant date and the land transfer are added, but only if any LBTT due on the transaction that caused the increase has been properly paid.
• Any decreases in the partner's share during the same period are then deducted to arrive at the attributable partnership share.
• If the calculation produces a figure below zero, the partnership share is treated as zero — it cannot be a negative amount.