Paragraph 41 I1
(1)
A transaction which is a chargeable transaction by virtue of paragraph 17 or 32 (transfer of partnership interest) is a notifiable transaction if (but only if) the consideration for the transaction exceeds the nil rate tax band.
(2)
The consideration for a transaction exceeds the nil rate tax band if—
(a)
the chargeable consideration, or
(b)
where the transaction is one of a number of linked transactions, the total of the chargeable consideration for all the linked transactions,
exceeds the nil rate tax band applicable to the transaction.
Annotations
Commencement
- I1
Sch. 17 para. 41 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2