Cliona Murphy Director Deloitte & Touche LLP examines the uncertainty which exists about stamp duty and SDRT on the transfer of partnership interests where UK securities are held in partnership structures
While never specifically legislated for in the past the Stamp Office has always treated the transfer of an interest in a partnership as a separate asset for stamp duty purposes. The outcome of this approach led in the past to situations where the transfer of an interest in a partnership could attract stamp duty at rates of up to 4% notwithstanding the underlying assets of the partnership attracting a lower rate for example 0.5% in the case of shares.
The 'Unum Quid'
The...
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Cliona Murphy Director Deloitte & Touche LLP examines the uncertainty which exists about stamp duty and SDRT on the transfer of partnership interests where UK securities are held in partnership structures
While never specifically legislated for in the past the Stamp Office has always treated the transfer of an interest in a partnership as a separate asset for stamp duty purposes. The outcome of this approach led in the past to situations where the transfer of an interest in a partnership could attract stamp duty at rates of up to 4% notwithstanding the underlying assets of the partnership attracting a lower rate for example 0.5% in the case of shares.
The 'Unum Quid'
The...
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