Application of exemptions and reliefs: Group Relief
There is a transfer of a chargeable interest from E Ltd to B Ltd.
The provisions of Sch15 would not have any application in this example as it is not a transfer from or to a partnership.
Therefore we look directly to the application of Sch7.
For group relief to apply for SDLT purposes the transfer must be between group companies and a company must be a body corporate and the 75% beneficial ownership test must be met.
An SP/Sc LP has its own legal personality so we cannot look through to the partners. For group relief to apply we have to identify a group structure including the SP/Sc LP.
As it is not a body corporate it does not meet the requirements of Sch7 so SDLT is due on this transaction as a transfer from one company to another without the benefit of group relief