xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"

Prospective

SCHEDULE 7E+WPARTNERSHIPS

PART 9 E+WAPPLICATION OF EXEMPTIONS, RELIEFS, PROVISIONS OF TCMA AND NOTIFICATION PROVISIONS

Notification of transfer of partnership interestE+W

44(1)A transaction which is a chargeable transaction by virtue of paragraph 18 or 34 (transfer of partnership interest) is a notifiable transaction only if the chargeable consideration for the transaction exceeds the zero rate threshold.E+W

(2)The chargeable consideration for a transaction exceeds the zero rate threshold if it includes—

(a)any amount in respect of which tax is chargeable at a rate of more than 0%, or

(b)any amount in respect of which tax would be so chargeable but for a relief.