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

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

Interpretation E+W

5 (1) In this Schedule— E+W

• “"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—

  (a)

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

  (b)

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

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

Commencement Information

I1 Sch. 12 para. 5 in force at 1.4.2018 by S.I. 2018/34, art. 3