SCHEDULE 17Partnerships

PART 5Transactions involving transfer from a partnership

Transfer of chargeable interest from a partnership to a partnership

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(1)

This paragraph applies where—

(a)

there is a transfer of a chargeable interest from a partnership to a partnership, and

(b)

the transfer is both—

(i)

a transaction to which Part 4 of this schedule applies, and

(ii)

a transaction to which this Part of this schedule applies.

(2)

Paragraphs 13(1) and 21(1) do not apply.

(3)

The chargeable consideration for the transaction is taken to be what it would have been if paragraph 13(1) had applied or, if greater, what it would have been if paragraph 21(1) had applied.