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Blue Frog Systems

  • Posts: 3813
Capital gains from selling a round help
« 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 ?
Only those who risk going too far will truly know how far they can actually go

Danny Guest

  • Posts: 545
Re: Capital gains from selling a round help
« Reply #1 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
Guest Cleaning Services

Count Phil

  • Posts: 656
Re: Capital gains from selling a round help
« Reply #2 on: January 10, 2011, 04:28:04 pm »
I would make sure it was cash and the sale never happened.

dai

  • Posts: 3503
Re: Capital gains from selling a round help
« Reply #3 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?