Partnership Split

Two brothers and their wives are in a partnership, four partners, each brother and his wife wants to separate and form their own partnership. The current partnership owns two shops, the split of assets will be each new partnership owning one shop and continuing as they currently are. Will there be any CGT implications? What would be the best way of dissolving the current partnership and forming new ones as this is what they would prefer and are there any tax implications involved? Thank you

 

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Roll over on dissolution of partnership

cathygrimmer |
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