Capital Gains: Limited Liability Partnership liquidations
This tax information and impact note is about changes to the taxation of capital gains on assets that have been contributed to a Limited Liability Partnership (LLP) that liquidates.
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Linked documents
- Policy Paper Capital Gains on liquidation of a Limited Liability Partnership
- Bill Amendment Draft legislation (accessible version)
▤ Verbatim text from source document
This measure makes sure that a member of an Limited Liability Partnership (LLP) that has contributed assets to an LLP that liquidates in favour of the member, or a person connected to them, is taxed on the gains before the assets being contributed to the LLP.