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CGT Expertise needed

simonslife · 2011-12-06 12:52:16

I am a law student that needs some advice on the CGT liability of a partnership that bought and sold property at a profit. Very simply, is a formal, legal partnership liable to capital gains tax or it that partnership liable for taxes based on profits only?

06-12-2011 12:52PM

#1
simonslife

Registered Users, Registered Users 2 Posts: 19 ✭

Join Date: September 2010

Posts: 12
I am a law student that needs some advice on the CGT liability of a partnership that bought and sold property at a profit. Very simply, is a formal, legal partnership liable to capital gains tax or it that partnership liable for taxes based on profits only?

Tagged:

advice

legal

tax

cgt

partnerships

0

Comments

#2 06-12-2011 03:41PM

nompere

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Join Date: December 2006

Posts: 1656

Property related questions aren't allowed here.

In general, income tax and capital gains tax assessments are raised on individuals, not partners.

0