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Consider a group of solicitors in partnership. »Ê¹ÚÌåÓýapp partnership wishes to purchase a new property from which to practice. Acting through a representative partner, the partnership buys a freehold property from a person who is not a partner and with whom none of the partners are connected for SDLT purposes.

»Ê¹ÚÌåÓýapp partnership has entered into a land transaction which is treated as entered into by or on behalf of the partners. (Para2)

»Ê¹ÚÌåÓýapp partners are jointly and severally liable to pay any SDLT due on the purchase. (Para7).

A partner joining after the effective date of a transaction has no SDLT liability in respect of any tax or interest due on that transaction, but may incur a liability to penalties. See examples at SDLTM33260 and SDLTM33270.

As Part 3 does not apply to this transaction, the chargeable consideration is computed under the normal SDLT rules (FA03/Sch4). Where, as is normally the case, full consideration passes on completion, this is the amount on which SDLT is chargeable.