»Ê¹ÚÌåÓýapp

»Ê¹ÚÌåÓýapp conversion reliefs are contained in a new section 179B of, and a new Schedule 20A to, Finance Act 1993. »Ê¹ÚÌåÓýappy therefore form part of the existing legislation in Finance Act 1993 which applies to individual Names.

FA93/SCH20A is in three parts.

• Part 1 applies to conversion to “successor companiesâ€�, which essentially means Namecos.
• Part 2 applies to conversion to “successor partnershipsâ€�, which means SLPs and LLPs.
• Part 3 contains supplementary provisions.

»Ê¹ÚÌåÓýapp conditions in Part 1 which apply to Nameco conversions are different from those in Part 2 which apply to SLP/LLP conversions. In both cases, however, the reliefs apply only to a single Name who converts to a personal Nameco, or to an SLP or LLP in which they are the only underwriting partner. »Ê¹ÚÌåÓýapp reliefs are not available to Names who convert via collective conversion schemes, or to several Names who convert to the same Nameco or SLP/LLP. And in both cases there must be continuity of underwriting from the Name to the conversion vehicle.