We have been considering a number of issues that various parties have raised in connection with the transfer of PE’s, whether by sale or lease and have compiled a detailed document, after having discussed some of the issues informally with various officials. The document describes our take on the situation as at 9th September. It will not necessarily accord with the guidance once it is published by RPA. This is very much a case of “watch this space”.
What is clear is that all is not yet clear. The regulations are open to interpretation on a number of issues and although there are a number of points where clarity is emerging there remain a number of matters that have to be worked through. RPA is intending to issue another Q&A sheet on these issues in the near future.
This document is intended to help you decide how to proceed and advises on the issues that need to be taken into account. It is not and cannot be a definitive statement of the law. Particular cases will need to be considered individually. For the full version of the document, please contact Paul Rice who will be pleased to send you a copy.
