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Where Taxpayers and Advisers Meet

FA03 s65

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Posts: 328
Joined: Thu Feb 23, 2012 10:26 am

FA03 s65

Postby Feedback » Fri Aug 10, 2018 8:57 am

If a partnership own a piece of land (£9m value), and they wish to take on another partner (a limco) who is investing £2m development capital, this new partner insists on incorporating a LLP. Will s65 apply if the land is transferred to the LLP given the original partners interest will be diluted post transfer or will SDLT be payable upon the deemed consideration of land transferred to the new partner?

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