Withdrawal of money etc. from partnership after transfer of a chargeable interest
8.—(1) This regulation applies where paragraph 17A(1) of Schedule 15 to the FA 2003 applies and—
(a)the effective date of the land transfer referred to in paragraph 17A(1)(a) of that Schedule is prior to the commencement date; and
(b)the qualifying event referred to in paragraph 17A(1)(c) of that Schedule occurs on or after the commencement date.
(2) Where this regulation applies—
(a)the land transfer is treated for the purposes of paragraph 19 of Schedule 7 to the LTT Act as if it were a land transfer mentioned in paragraph 19(1) of that Schedule; and
(b)a qualifying event referred to in paragraph 17A(2) of Schedule 15 to the FA 2003 is treated as if it were a qualifying event for the purposes of paragraph 19(2) of Schedule 7 to the LTT Act.