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UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: Blue Frog Systems on January 09, 2011, 02:47:06 pm

Title: Capital gains from selling a round help
Post by: Blue Frog Systems on January 09, 2011, 02:47:06 pm

Just wondered if someone can help me out with this...

Back in March 09 i sold a round.... now this is classed as capital gains and was within the yearly limit.

My wife and i are in a partnership and are wondering where the capital gains goes on the partnership tax return ?

Also how do we claim back capital gains allowance on it ?

Title: Re: Capital gains from selling a round help
Post by: Danny Guest on January 09, 2011, 11:36:58 pm

Blue frog

I think you get some good information and some bad information off this forum but on something like this you need good accurate advice. I would go and see an accountant and get a professional response

Regards
Danny

Title: Re: Capital gains from selling a round help
Post by: Count Phil on January 10, 2011, 04:28:04 pm

I would make sure it was cash and the sale never happened.

Title: Re: Capital gains from selling a round help
Post by: dai on January 10, 2011, 06:00:40 pm

Am I missing something here. I was under the impression that if you bought a round. it was just good will and not tax deductable.
But if you sell the same round the taxman want's a cut?