Transfer of chargeable interest to or from a partnership: chargeable consideration including rent
31
(1) This paragraph applies in relation to a transaction to which paragraph 13 or 21 applies where the whole or part of the chargeable consideration for the transaction is rent.
(2) Part 5 of Schedule 6 (leases: calculation of tax chargeable) has effect with the modifications set out in sub-paragraphs (3) to (6).
(3) Paragraph 29 has effect as if—
(a) in Step 1, for “the net present value (the
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