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Land and Buildings Transaction Tax (Scotland) Act 2013

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PART 9SInterpretation

IntroductionS

42 This Part of this schedule defines expressions used in this schedule.

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Commencement Information

I1 Sch. 17 para. 42 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

Partnership propertyS

43 Any reference to partnership property is to an interest or right held by or on behalf of a partnership, or the members of a partnership, for the purposes of the partnership business.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I2 Sch. 17 para. 43 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

Partnership shareS

44 Any reference to a person's partnership share at any time is to the proportion in which the person is entitled at that time to share in the income profits of the partnership.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I3 Sch. 17 para. 44 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

Transfer of chargeable interestS

45 References to the transfer of a chargeable interest include—

(a)the creation of a chargeable interest,

(b)the renunciation or release of a chargeable interest, and

(c)the variation of a chargeable interest.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I4 Sch. 17 para. 45 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

Transfer of chargeable interest to a partnershipS

46 For the purposes of this schedule, there is a transfer of a chargeable interest to a partnership in any case where a chargeable interest becomes partnership property.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I5 Sch. 17 para. 46 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

Transfer of chargeable interest from a partnershipS

47 For the purposes of this schedule, there is a transfer of a chargeable interest from a partnership in any case where—

(a)a chargeable interest that was partnership property ceases to be partnership property, or

(b)a chargeable interest is created out of partnership property and the interest is not partnership property.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I6 Sch. 17 para. 47 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

Transfer of interest in a partnershipS

48 For the purposes of this schedule, where a person acquires a partnership share or a person's partnership share increases there is a transfer of an interest in the partnership (to that partner and from the other partners).

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I7 Sch. 17 para. 48 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

Connected personsS

49 In the application of section 1122 of the Corporation Tax Act 2010 (connected persons) for the purposes of this schedule—

(a)that section has effect with the omission of subsection (7) (partners connected with each other), and

(b)for the purposes of paragraph 12 or 22, that section has effect with the omission of subsection (6)(c) to (e) (trustee connected with settlement).

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I8 Sch. 17 para. 49 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

ArrangementsS

50 Arrangements ” includes any scheme, agreement or understanding, whether or not legally enforceable.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I9 Sch. 17 para. 50 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

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