Withdrawal of money etc. from partnership after transfer of a chargeable interest8
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.