SDLTM24500 | Reliefs: Incorporation of limited liability partnerships

General overview FA03/S65

Where the following three conditions are met, relief from Stamp Duty Land Tax may be claimed on a land transaction which transfers a chargeable interest from a person (the transferor) to a limited liability partnership in connection with its incorporation.

A limited liability partnership means one formed under the Limited Liability Partnerships Act 2000 or the Limited Liability Partnerships Act (Northern Ireland) 2002.

The three conditions are that:

Relevant time means

• if the transferor acquired the chargeable interest after the partnership was incorporated, the time immediately after they acquired that chargeable interest

• otherwise, immediately before the partnership was incorporated