STSM022160 | Scope of stamp duty on shares: stamp duty: adjudication, stamps and reliefs: transfer of a partnership interest

Stamp Duty is chargeable on any instrument that transfers an interest in a partnership. Owing to the provisions of paragraphs 31, 32, and 33 of Schedule 15 FA2003, the amount of Stamp Duty chargeable depends on the extent to which the partnership assets include stock or marketable securities.

Any instrument transferring interests in a partnership must be adjudicated, even if the partnership property does not include any stock or marketable securities, and no Stamp Duty is chargeable.

If the partnership property does contain stock or marketable securities, then the amount of Stamp Duty chargeable is not to exceed the amount that would be chargeable if the instrument of transfer had been one transferring the underlying stock or marketable securities.

More information on the transfer of partnership interests is at STSM021270.