PART IX MISCELLANEOUS AND SUPPLEMENTARY
Miscellaneous
F1267A Limited liability partnerships.
For the purposes of this Act and any other enactments relating to inheritance tax—
a
property to which a limited liability partnership is entitled, or which it occupies or uses, shall be treated as property to which its members are entitled, or which they occupy or use, as partners,
b
any business carried on by a limited liability partnership shall be treated as carried on in partnership by its members,
c
incorporation, change in membership or dissolution of a limited liability partnership shall be treated as formation, alteration or dissolution of a partnership, and
d
any transfer of value made by or to a limited liability partnership shall be treated as made by or to its members in partnership (and not by or to the limited liability partnership as such).