IHTM25225 - Land and buildings, machinery and plant: Property used by a partnership

In relation to any land or building, machinery or plant used by a partnership, IHTA84/S105(1)(d) may apply to assets owned by the transferor. A transfer of a qualifying asset owned by the partner outside the partnership, and so is not an asset of the partnership, but is used by the partnership, will qualify for business relief under this sub-section.