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Land and Buildings Transaction Tax (Scotland) Act 2013
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- Acts of the Scottish Parliament
- 2013 asp 11
- SCHEDULE 12
- The qualifying conditions
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The qualifying conditionsS
2SThe qualifying conditions are—
(a)that the effective date of the transaction is not more than 1 year after the date of incorporation of the limited liability partnership,
(b)that at the relevant time the transferor—
(i)is a partner in a partnership, or
(ii)holds the interest transferred as nominee or bare trustee for one or more partners in a partnership,
(c)that at the relevant time the partnership mentioned in paragraph (b) is comprised of all the persons who are or are to be members of the limited liability partnership (and no-one else), and
(d)that either—
(i)the proportions of the interest transferred to which the persons mentioned in paragraph (c) are entitled immediately after the transfer are the same as those to which they were entitled at the relevant time, or
(ii)none of the differences in those proportions has arisen as part of a scheme or arrangement of which the main purpose, or one of the main purposes, is avoidance of liability to the tax.
Commencement Information
I1 Sch. 12 para. 2 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2
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