Bear with me on this, Stamp Duty is REALLY not my thing...
We have a client operating as a LLP and also as a partnership (2 seperate partnerships with the same 2 partners). They each own a few investment properties which they want to transfer to a Ltd company (which they control).
My initial knee jerk reaction is that this would have to be at MV as it is a related party transaction. Therefore SDLT would be payable on the MV.
I've been told by a solicitor that this isn't the case and in fact SDLT can be avoided, I assume by transfering at a lower value, but he was sketchy on the further details.
Is there a special rule I am unaware of?
Partnership to company transfer
2 posts • Page 1 of 1
Partnership to company transfer
by Kitty Kat on Tue Mar 08, 2011 12:50 pm
"assortment of wardrobe has attained the approval of guys and a large amount of women every little bit as alike"
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Re: Partnership to company transfer
by section 44 on Tue Mar 08, 2011 1:05 pm
Schedule 15 to the Finance Act 2003 would be worth reading.
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2 posts • Page 1 of 1
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