SCHEDULES
SCHEDULE 15Stamp duty land tax: partnerships
F1Part 3Transactions to which special provisions apply
18Transfer of chargeable interest from a partnership: general
1
This paragraph applies where a chargeable interest is transferred—
a
from a partnership to a person who is or has been one of the partners, or
b
from a partnership to a person connected with a person who is or has been one of the partners.
F22
The chargeable consideration for the transaction shall (subject to paragraph 24) be taken to be equal to—
where—
MV is the market value of the interest transferred, and
SLP is the sum of the lower proportions.
5
Paragraph 20 provides for determining the sum of the lower proportions.
6
Paragraph 19 applies F3... if the whole or part of the chargeable consideration for the transaction is rent.
7
For the purposes of this paragraph property that was partnership property before the partnership was dissolved or otherwise ceased to exist shall be treated as remaining partnership property until it is distributed.
Sch. 15 Pt. 3 substituted (with effect in accordance with Sch. 41 para. 3 of the amending Act) by Finance Act 2004 (c. 12), Sch. 41 para. 1