Valid from 18/10/2017

Valid from 01/04/2018

SCHEDULE 7 E+W PARTNERSHIPS

PART 4 E+W TRANSACTIONS INVOLVING TRANSFERS TO A PARTNERSHIP

Corresponding partner E+W

16 (1) For the purposes of paragraph 14 (see Step 2), a person is a corresponding partner in relation to a relevant owner if, immediately after the transaction— E+W

(a) the person is a partner, and

(b) the person is the relevant owner or is an individual connected with the relevant owner.

(2) For the purpose of sub-paragraph (1)(b), a company is to be treated as an individual connected with the relevant owner if it—

(a) holds property as trustee, and

(b) is connected with the relevant owner only because of section 1122(6) of the Corporation Tax Act 2010 (c. 4) (as it has effect with the omission of subsection (6)(c) to (e)).