Land and Buildings Transaction Tax (Scotland) Act 2013 section 44

Partnership share

Schedule 17, paragraph 44 defines what is meant by a person's "partnership share" for the purposes of the partnership provisions within LBTT.

  • A person's partnership share is determined by their entitlement to the income profits of the partnership.
  • The share is measured as a proportion — essentially, the percentage of income profits the person is entitled to receive.
  • The partnership share is assessed at the specific point in time that is relevant to the transaction or event in question.
  • This definition applies whenever the term "partnership share" is used throughout the LBTT partnership rules.

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