SDLT on swaps

SDLT on swaps

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Farming partnership own farm houses and land and other assets. The two partners are dissolving partnership and have agreed a scheme to divide up the assets with a cash settlement for the difference. Is SDLT payable and if so on how much of the transaction. They own the assets 50/50, profit shares are a complicated formula based on performance of different divisions. If payable on all property then how does it work when property held by H&W as as joint tenants is often reorganised into being held as tenants in common without any SDLT
Andy Shady

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