# Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017, Paragraph 32


(1) Sub-paragraph (2) applies in relation to a chargeable transaction, the subject-matter of which consists of a major interest in one or more dwellings if—
(a) the buyer (or one of them) is a partner in a partnership, but
(b) the buyer does not enter into the transaction for the purposes of the partnership.
(2) For the purposes of determining whether paragraph 5 or 15 applies to the transaction, any major interest in any other dwelling that is held by or on behalf of the partnership for the purposes of a trade carried on by the partnership is not to be treated as held by or on behalf of the buyer.
(3) Paragraph 4(1)(a) of Schedule 7 (chargeable interests held by partnerships treated as held by the partners) has effect subject to sub-paragraph (2).

---
Source: https://www.legislation.gov.uk/anaw/2017/1/schedule/5/paragraph/32 (the official version)
Page: https://openlegislation.uk/land-transaction-tax-and-anti-avoidance-of-devolved-taxes-wales-act-2017/schedule-5/paragraph-32
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.