SCHEDULE 7PARTNERSHIPS

PART 9APPLICATION OF EXEMPTIONS, RELIEFS, PROVISIONS OF TCMA AND NOTIFICATION PROVISIONS

Application of exemptions and reliefs

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1

Paragraph 1 of Schedule 3 (exemption of transactions for which there is no chargeable consideration) does not apply to transactions to which paragraph 13, 18, 21 or 34 applies.

2

But (subject to paragraphs 40 and 42) this Schedule has effect subject to any other provision affording exemption or relief from tax.