Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 7 paragraph 3

Definition of "partnership"

Schedule 7 paragraph 3 defines what counts as a "partnership" for the purposes of the Act's land transaction tax rules.

• A partnership formed under the Partnership Act 1890 (i.e. a general or ordinary partnership) is included in the definition.
• A limited partnership registered under the Limited Partnerships Act 1907 is also covered.
• A limited liability partnership (LLP) formed under the Limited Liability Partnerships Act 2000 falls within the definition.
• Any firm or similar entity formed under the law of a country or territory outside the United Kingdom that is comparable to any of the above types of partnership is also treated as a partnership for these purposes.