Paragraph 4 I1

(1)

For the purposes of this Act—

(a)

a chargeable interest held by or on behalf of a partnership is treated as held by or on behalf of the partners, and

(b)

a land transaction entered into for the purposes of a partnership is treated as entered into by or on behalf of the partners,

and not by or on behalf of the partnership as such.

(2)

Sub-paragraph (1) applies despite a partnership being regarded as a legal person, or as a body corporate, under the law of the country or territory under which it is formed.

Annotations

Commencement

I1: Sch. 7 para. 4 in force at 1.4.2018 by S.I. 2018/34, art. 3