72 Partnerships
Finance Act 2007 (2007 c 11) | Legislation

72 Ìý±Ê²¹°ù³Ù²Ô±ð°ù²õ³ó¾±±è²õ

(1)     Schedule 15 to FA 2003 (stamp duty land tax: partnerships) is amended as follows.

(2)     A reference in this section to a provision of that Schedule is to the provision as it had effect before variation by the Stamp Duty Land Tax (Variation of the Finance Act 2003) Regulations 2006.

(3)     In Step Two of paragraph 12(1) (transfer to partnership: how to calculate the “sum of the lower proportionsâ€)—

(a)     in paragraph (b), for “or is connected with the relevant owner†substitute “or is an individual connected with the relevant ownerâ€, and

(b)     insert at the end—

“(If there is no relevant owner with a corresponding partner, the sum of the lower proportions is nil.)â€

(4)     In paragraph 12, after sub-paragraph (2) insert—

“(3)     For the purpose of paragraph (b) of Step 2 a company is to be treated as an individual connected with the relevant owner in so far as it—

(a)     holds property as trustee, and

(b)     is connected with the relevant owner only because of section 839(3) of the Taxes Act 1988.â€

(5)     Omit paragraph 13 (transfer to partnership where all partners are companies).

(6)     In paragraph 14 (transfer of interest

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