25 (1)This paragraph provides for determining the partnership share attributable to a partner for the purposes of paragraph 22 (see Step 4).S
(2)Where any tax payable in respect of the transfer of the relevant chargeable interest to the partnership has not been paid under this Act, the partnership share attributable to a partner is zero.
(3)Where the partner ceases to be a partner before the effective date of the transfer of the relevant chargeable interest to the partnership, the partnership share attributable to the partner is zero.
(4)In any other case, paragraph 26 applies for determining the partnership share attributable to a partner.
(5)In this paragraph and paragraph 26, the relevant chargeable interest is—
(a)the chargeable interest which ceases to be partnership property as a result of the land transfer, or
(b)where the land transfer is the creation of a chargeable interest, the chargeable interest out of which that interest is created.
Modifications etc. (not altering text)
C1 Sch. 17 para. 25 modified (1.4.2015) by The Land and Buildings Transaction Tax (Transitional Provisions) (Scotland) Order 2014 (S.S.I. 2014/377) , arts. 1 , 9
Commencement Information
I1 Sch. 17 para. 25 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2