SCHEDULES

SCHEDULE 24Stamp duty land tax: amendments of Schedule 15 to FA 2003

Transfer of chargeable interest to a partnership

2

1

In paragraph 10 (transfer of chargeable interest to a partnership: general), for sub-paragraphs (2) to (4) substitute—

2

The chargeable consideration for the transaction shall (subject to paragraph 13) be taken to be equal to—

MV×(100-SLP)%math

where—

MV is the market value of the interest transferred, and

SLP is the sum of the lower proportions.

2

In sub-paragraph (6) of that paragraph, omit “(instead of sub-paragraphs (2) to (5))”.