Where the special rules apply for transfers out of a partnership, the calculation for chargeable consideration mirrors that applicable to a transfer into a partnership. However, attention needs to be given to the differences in determining the ‘lower proportion’.

Thus, the formula is:

MV × (100SLP)%

Where MV is the market value of the interest transferred

SLP is the sum of the lower proportions

(Sch. 17, para. 21(1)).

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