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Home Forums Patrick Cannon What is a Type A partnership transfer under para 14 of sch 15, 2003? Reply To: What is a Type A partnership transfer under para 14 of sch 15, 2003?

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Patrick
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The assumption of debt will be consideration and so I’m afraid that you have a Type A transfer. It’s interesting that in most if not all admissions of new partners they will automatically assume liability for the debts whether or not there is a formal assumption