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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Persons chargeable: partners

TCGA92/S59

Where two or more persons carry on a trade or business in partnership

  • disposals of chargeable assets owned by the partnership are treated as disposals by the partners and not by the firm as such,

and

  • Capital Gains Tax is assessed and charged on the partners separately.

See CG27000.