Commentary

A4.408 'Relevant investments'—Scottish partnership condition

Administration and compliance

A4.408 'Relevant investments'—Scottish partnership condition

A4.408 'Relevant investments'—Scottish partnership condition

An investment may qualify as a relevant investment by meeting the 'Scottish partnership condition'1. This condition is met if a Scottish partnership is beneficially entitled to all interest on the investment, and that partnership consists only of individuals2.

The residence of the partners must be considered in determining whether the investment qualifies as a relevant investment.

Years prior to 2016/17

An investment was not a 'relevant investment' (and therefore not subject to deduction of tax at source) where an 'appropriate person'3 made a declaration that at the time the declaration was made, none of the partners were

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