Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

General Principles definition

What does General Principles mean? In takeover practice, General Principles are the high‑level standards that guide how the Takeover Code (UK) and the Irish Takeover Rules are interpreted and applied in real transactions. They set expectations of commercial behaviour by bidders, target boards and advisers. There are six General Principles, mirroring the general principles in Article 3 of the EU Takeover Directive. In the UK they are contained in the Code notwithstanding Brexit; in Ireland they derive from the Directive and are embedded in the Rules. They are expressed in broad terms and neither the Code nor the Rules defines the precise limits of their...

SDLT and partnerships: general principles, ordinary transactions, reporting duties and partnership-interest transfers (England and Northern Ireland)

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Practice notes

Practice Note

This Practice Note outlines the general SDLT treatment of partnerships, clarifying what qualifies as a partnership for SDLT and how such bodies sit within the wider SDLT framework. It also addresses transfers of interests in a partnership. It explains:

which entities and arrangements are treated as partnerships for SDLT
the SDLT treatment applicable to partnerships
how SDLT operates where a partnership buys a chargeable interest in land from an unconnected party
who must file returns and pay SDLT together with any associated liabilities

Separate Practice Notes cover what the SDLT legislation terms:

special transactions (that is, acquisitions from and disposals to connected persons or partners of a partnership), see Practice Notes: SDLT and partnerships—transfers to a partnership and SDLT and partnerships—transfers from a partnership
anti-avoidance rules and reliefs, see Practice Note: SDLT and partnerships—anti-avoidance and reliefs
transactions involving property investment partnerships, see Practice Note: SDLT and property investment partnerships

SDLT ceased to apply to any land transaction involving interests in or over land in Scotland from 1 April 2015...

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Web page updated on 21/05/2026

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