LBTT2010 - Partition or division of a chargeable interest

LBTT guidance on the partition or division of a chargeable interest when determining the chargeable consideration in a land transaction.

Where a land transaction involves dividing or partitioning a chargeable interest to which parties are jointly entitled, the share of the interest held by the buyer immediately before the division or partition does not count as the chargeable consideration for the transaction.