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Sale of block of flats

What rate of CGT?

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US LLC owned a block of residential apartments.

Both LLC partner subject to UK tax on sale.

As residential I would assume 28/18% CGT but am I missing something ?

Never dealt with a whole block sale before.

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By Rebecca Cave
31st Jul 2019 08:49

Is the LLC treated as a company or partnership in the UK? If as a partnership, and the partners are individuals, then the rate of CGT is indeed 28% on large residential gains, 18% if gain within basic rate band. If partners are non-resident CGT will be payable within 30 days of the completion date where sale is made in 2019/20.

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