LBTT7001 - Partnerships

This chapter covers the rules regarding partnerships and LBTT and mainly relates to the provisions contained in schedule 17 to the LBTT(S)A 2013.

The following are the circumstances in which LBTT liability will arise when partnerships deal with chargeable interests:

• when a partnership acquires a chargeable interest and enters into the land transaction as the buyer (ordinary partnership transactions – see LBTT7004);
• when a chargeable interest is transferred to a partnership by a partner, a person who will become a partner or a person connected (see LBTT7003) to either the partner or person who will become a partner;
• when a chargeable interest is transferred from a partnership to a person who is or was a partner, or is connected (see LBTT7003) with such a person; and
• when a chargeable interest is transferred from a partnership to another partnership.

The guidance in this chapter is structured as follows: