Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw1)

Valid from 01/04/2018

SCHEDULE 12 E+W RELIEF FOR INCORPORATION OF LIMITED LIABILITY PARTNERSHIP

Condition B E+W

3 E+W Condition B is that at the relevant time the transferor—

(a) is a partner in a partnership comprised of all the persons who are, or are to be, members of the limited liability partnership (and no-one else), or

(b) holds the chargeable interest as nominee or bare trustee for one or more of the partners in such a partnership.