diff --git a/libs/ardour/ltc_slave.cc b/libs/ardour/ltc_slave.cc
index 8d570aeeb8..e0da586f3e 100644
--- a/libs/ardour/ltc_slave.cc
+++ b/libs/ardour/ltc_slave.cc
@@ -381,6 +381,8 @@ LTC_Slave::process_ltc(framepos_t const /*now*/)
 			timecode_negative_offset, timecode_offset
 			);
 
+		ltc_frame += ltc_slave_latency.max + session.worst_playback_latency();
+
 		framepos_t cur_timestamp = frame.off_end + 1;
 		DEBUG_TRACE (DEBUG::LTC, string_compose ("LTC F: %1 LF: %2  N: %3 L: %4\n", ltc_frame, last_ltc_frame, cur_timestamp, last_timestamp));
 		if (frame.off_end + 1 <= last_timestamp || last_timestamp == 0) {
@@ -463,7 +465,7 @@ LTC_Slave::speed_and_position (double& speed, framepos_t& pos)
 			reset();
 		}
 
-		parse_ltc(nframes, in, now - ltc_slave_latency.max );
+		parse_ltc(nframes, in, now);
 		process_ltc(now);
 	}
 
diff --git a/libs/ardour/session_ltc.cc b/libs/ardour/session_ltc.cc
index 1ac2681641..2cd21f9afd 100644
--- a/libs/ardour/session_ltc.cc
+++ b/libs/ardour/session_ltc.cc
@@ -261,9 +261,9 @@ Session::ltc_tx_send_time_code_for_cycle (framepos_t start_frame, framepos_t end
 	framepos_t cycle_start_frame;
 
 	if (current_speed < 0) {
-		cycle_start_frame = (start_frame - ltc_out_latency.max);
+		cycle_start_frame = (start_frame - ltc_out_latency.max + worst_playback_latency());
 	} else if (current_speed > 0) {
-		cycle_start_frame = (start_frame + ltc_out_latency.max);
+		cycle_start_frame = (start_frame + ltc_out_latency.max - worst_playback_latency());
 	} else {
 		/* There is no need to compensate for latency when not rolling
 		 * rather send the accurate NOW timecode