(a)there is a transfer of an interest in a partnership, which (from 19 July 2006) is a property-investment partnership, and

(b)the relevant partnership property includes a chargeable interest,

the transfer is taken to be a land transaction which is a chargeable transaction.

The purchaser is the person who acquires an increased partnership share or who becomes a partner as a result of the transfer.

Legislation: FA 2003, Sch. 15, para. 14(1)-(3)

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