In this Schedule—

• “"limited liability partnership”” (“"partneriaeth atebolrwydd cyfyngedig”") means a limited liability partnership formed under the Limited Liability Partnerships Act 2000 (c. 12);

• “"the relevant time”” (“"yr adeg berthnasol”") means—

  1. a

     where the transferor acquired the chargeable interest after the incorporation of the limited liability partnership, immediately after the transferor acquired it, and

  2. b

     in any other case, immediately before the limited liability partnership's incorporation.

In paragraph 4(b), “"arrangements”” includes any scheme, agreement or understanding, whether or not legally enforceable.