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HMRC internal manual

Stamp Duty Land Tax Manual

Special provisions relating to partnerships: Application of exemptions and reliefs

Consider the passing of an interest in a property investment partnership from father to daughter that occurs as a result of the death of the father.

This is a Type B transfer within Para14 and the consideration chargeable on the daughter would be the share she acquired multiplied by the market value of the “relevant partnership property” Para14(6)&(7).

However, FA03/Sch3/Para 3A(1) states that the acquisition of property by a person in or towards satisfaction of his entitlement under or in relation to the will of a deceased person, or on the intestacy of a deceased person, is exempt from charge [if certain conditions are satisfied].

If FA03/Sch3/Para3A applies, then the transfer of the partnership interest (though chargeable under Para18) is exempted by FA03/Sch3/Para 3A (1) and Sch15/Para 25(2).