Does SDLT apply on the transfer of property from a partnership to a partner?

Home Forums Patrick Cannon Does SDLT apply on the transfer of property from a partnership to a partner?

This topic contains 1 reply, has 1 voice, and was last updated by Does SDLT apply on the transfer of property from a partnership to a partner? by Patrick Cannon 1 Patrick 1st October 2009 at 12:32 pm.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #386 Reply
    Does SDLT apply on the transfer of property from a partnership to a partner? by Patrick Cannon 2
    Nigel Hollinshead

    A& B are brothers. A is dying. B is to buy A’s entire interest in land and buildings A&B own as a property investment partnership. B is not buying A’s “interest” in the partnership, as the partnership is terminating. Para 18(2)+ Para 20 imply no SDLT. As the actual transaction is a sale of land for full value, why should no duty be payable?

    #387 Reply
    Does SDLT apply on the transfer of property from a partnership to a partner? by Patrick Cannon 3
    Patrick

    I agree no SDLT and the reason is the policy of treating transfers between person connected with individual partners as generally not taxable.

Viewing 2 posts - 1 through 2 (of 2 total)
Reply To: Does SDLT apply on the transfer of property from a partnership to a partner?
Your information: