Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 Schedule 7 paragraph 28

Transfers between partnerships and all-corporate partnerships

Paragraph 28 of Schedule 7 introduces the part of the Schedule that deals with two specific types of partnership land transactions: transfers from one partnership to another, and transactions where the partnership is made up entirely of bodies corporate.

• This paragraph introduces the provisions covering particular categories of partnership land transactions
• The first category is transactions involving a transfer of land from one partnership to another partnership
• The second category is transactions where every partner in the partnership is a body corporate (such as a limited company)
• Both categories are subject to their own specific rules set out in the remainder of this part of Schedule 7