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

SCHEDULE 7 E+W PARTNERSHIPS

PART 5 E+W TRANSACTIONS INVOLVING TRANSFERS FROM A PARTNERSHIP

Relevant owner E+W

23 (1) For the purposes of paragraph 22 (see Step 1), a person is a relevant owner if— E+W

(a) immediately after the transaction, that person is entitled to a proportion of the chargeable interest, and

(b) immediately before the transaction, that person was a partner or connected with a partner.

(2) For the purposes of paragraph 22 and this paragraph, persons who are entitled to a chargeable interest as beneficial joint tenants are to be taken to be entitled to the chargeable interest as beneficial tenants in common in equal shares.

Commencement Information

I1 Sch. 7 para. 23 in force at 1.4.2018 by S.I. 2018/34, art. 3