Special provisions relating to partnerships: Transfers of a chargeable interest to a partnership
As above, but the market value premium is £350,000 and the NPV is calculated at £300,000
The consideration chargeable on this transfer is calculated as follows:
- The market value of the premium x (100 - SLP) %: that is
- 350,000 x (100 - 40) % = 210,000
- The relevant chargeable proportion of the net present value of the rents: that is
- 300,000 x (100 - 40) % = 180,000
- £2,400 SDLT is due on this transaction, £2,100 in respect of the premium and £300 in respect of the rents.
This is made up of £210,000 @ 1% in respect of the premium (as the consideration is over the threshold the full amount is charged) plus £180,000 - £150,000 (current rent threshold) = £30,000 @ 1% in respect of the rental element.