Policy paper

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.

• From: HM Revenue & Customs
• Published: 30 October 2024
• Last updated: 31 October 2024 — See all updates

Documents

Capital Gains on liquidation of a Limited Liability Partnership

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Draft legislation

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Draft legislation (accessible version)

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Details

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.

Published 30 October 2024
Last updated 31 October 2024 + show all updates

1. 31 October 2024

   Accessible version of draft legislation has been added.

2. 30 October 2024

   First published.