The following Tax guidance note provides comprehensive and up to date legal information covering:
This Practice Note explains the special stamp duty land tax (SDLT) rules which apply when an interest in land is transferred from a partnership to a partner or person connected with a partner, including transfers on dissolution of partnership.
Special SDLT rules apply:
when a chargeable interest is transferred to a partnership from one or more partners or persons connected with one or more partners, including transfers on formation of the partnership
when value is withdrawn from a partnership by certain parties during the three years following a transfer, as described in the bullet point above
when a chargeable interest is transferred from a partnership to one or more partners or persons connected with one or more partners, including transfers in connection with the dissolution of the partnership, and
when a chargeable interest is transferred from one partnership to another partnership and there are common or connected partners
The rules relating to special partnership transactions for SDLT purposes are set out in Part 3 of Schedule 15 to the Finance Act 2003 (FA 2003). Paragraph references throughout this Practice Note are to FA 2003, Sch 15 unless otherwise indicated.
This Practice Note explains the special SDLT rules which apply when a chargeable interest is transferred from a partnership to a partner or person connected with a partner, including transfers on dissolution of partnership. For
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
0330 161 1234