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Change year: 2010

Section 30 Partnerships

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Where 2 or more persons carry on a trade, business or profession in partnership-

(a) capital gains tax in respect of chargeable gains accruing to those persons on the disposal of any partnership assets shall be assessed and charged on them separately, and

(b) any partnership dealings in assets shall be treated as dealings by the partners and not by the firm as such.

As a partner, how am I taxed on partnership gains?

As a partner in a partnership, you are separately assessed to CGT on your individual shares of any gains accruing on the disposal of partnership assets. ...

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