Paragraph 23 I1

(1)

For the purposes of paragraph 22 (see Step 1), a person is a relevant owner if—

(a)

immediately after the transaction, that person is entitled to a proportion of the chargeable interest, and

(b)

immediately before the transaction, that person was a partner or connected with a partner.

(2)

For the purposes of paragraph 22 and this paragraph, persons who are entitled to a chargeable interest as beneficial joint tenants are to be taken to be entitled to the chargeable interest as beneficial tenants in common in equal shares.

Annotations

Commencement

I1: Sch. 7 para. 23 in force at 1.4.2018 by S.I. 2018/34, art. 3