SCHEDULES
SCHEDULE 15Stamp duty land tax: partnerships
F1Part 3Transactions to which special provisions apply
Transactions that are not notifiable
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(1)
A transaction which is a chargeable transaction by virtue of paragraph 14 or 17 (transfer of partnership interest) is a notifiable transaction if (but only if) the consideration for the transaction exceeds the zero rate threshold.
(2)
The consideration for a transaction exceeds the zero rate threshold if either or both of the following conditions are met—
(a)
the relevant consideration for the purposes of section 55 (amount of tax chargeable: general) is such that the rate of tax chargeable under that section is 1% or higher;
(b)
the relevant rental value for the purposes of Schedule 5 (amount of tax chargeable: rent) is such that the rate of tax chargeable under that Schedule is 1% or higher.