Capital Gain on Partnership Asset

Capital Gain on Partnership Asset

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A Partnership sold its freehold in January 2004, which was shown in the accounts to 30 April 2004.

Am I correct in thinking that the capital gain should be included on the 2003/04 Partnership Return?
Gary

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Chris Caspell CTA TEP
By ccaspell
07th Dec 2004 10:03

Yes...
You are correct, CGT is charged on chargeable gains made during a tax year.

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