Section 267A — Inheritance Tax Act 1984: Limited liability partnerships.

Limited liability partnerships. 267A For the purposes of this Act and any other enactments relating to inheritance tax—

a property to which a limited liability partnership is entitled, or which it occupies or uses, shall be treated as property to which its members are entitled, or which they occupy or use, as partners, b any business carried on by a limited liability partnership shall be treated as carried on in partnership by its members, c incorporation, change in membership or dissolution of a limited liability partnership shall be treated as formation, alteration or dissolution of a partnership, and d any transfer of value made by or to a limited liability partnership shall be treated as made by or to its members in partnership (and not by or to the limited liability partnership as such).