SCHEDULES

SCHEDULE 15 U.K. Stamp duty land tax: partnerships

Part 3 U.K. Transactions excluded from stamp duty land tax

Transfer of interest in land into a partnership U.K.

10 (1) This paragraph applies to a transaction by which— U.K.

(a) a partner transfers an interest in land to a partnership, or

(b) a person transfers an interest in land to a partnership in return for an interest in the partnership,

whether in connection with the formation of the partnership or in a case where the partnership already exists.

(2) There is a transfer of an interest in land to a partnership in any case where an interest in land that was not partnership property becomes partnership property.

(3) A transaction to which this paragraph applies is excluded from stamp duty land tax.