Land and Buildings Transaction Tax (Scotland) Act 2013 Schedule 17 paragraph 48

Transfer of an interest in a partnership

Paragraph 48 of Schedule 17 defines what constitutes a transfer of an interest in a partnership for the purposes of the partnership provisions of the Act.

• A transfer of interest in a partnership occurs when a person acquires a partnership share
• A transfer also occurs when an existing partner's partnership share increases
• The transfer is treated as being to the partner who acquires or increases their share
• The transfer is treated as being from the other partners in the partnership