Schedule 10, Part 2, paragraph 15

Paragraph 13 does not apply if— a qualifying activity is carried on in partnership, the Part 5 transfer is a transfer of plant or machinery which is partnership property, and compensating payments are made to one or more, but not both or all, of the partners. Instead, the disposal value to be brought into account is the sum of— any compensating payments made to any of the partners, and in the case of each partner to whom a compensating payment has not been made, his share of the tax-neutral amount. A partner’s share of the tax-neutral amount is to be determined according to the profit-sharing arrangements for the twelve months ending immediately before the date of the Part 5 transfer.

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Source: legislation.gov.uk · retrieved 2026-09-04