Limited Liability Partnerships Act 2000
2000 CHAPTER 12
Commentary on Sections
Taxation
Section 11: Inheritance tax
This section inserts a new section in the Inheritance Tax Act 1984. This provides that for inheritance tax purposes the members of an LLP are treated as if they were partners in a partnership. This ensures that inheritance tax will be charged in respect of members’ interests in an LLP as it is in respect of partners’ interests in a partnership, and that business relief will be available on the same basis.
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