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Limited Liability Partnerships Act 2000
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- UK Public General Acts
- 2000 c. 12
- Taxation
- Section 11
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11 Inheritance tax.U.K.
This section has no associated Explanatory Notes
In the M1Inheritance Tax Act 1984, after section 267 insert—
“267A Limited liability partnerships.
For the purposes of this Act and any other enactments relating to inheritance tax—
(a)property to which a limited liability partnership is entitled, or which it occupies or uses, shall be treated as property to which its members are entitled, or which they occupy or use, as partners,
(b)any business carried on by a limited liability partnership shall be treated as carried on in partnership by its members,
(c)incorporation, change in membership or dissolution of a limited liability partnership shall be treated as formation, alteration or dissolution of a partnership, and
(d)any transfer of value made by or to a limited liability partnership shall be treated as made by or to its members in partnership (and not by or to the limited liability partnership as such).”
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