Capital Gains Tax: disposals of land and residences for limited liability partnerships and Scottish partnerships
This measure creates a UK-wide level playing field for limited liability partnerships and Scottish Partnerships and was originally announced at Tax Administration and Maintenance Day 2021.
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▤ Verbatim text from source document
This is for members in limited liability partnerships and partners in Scottish partnerships who are currently unable to claim Capital Gains Tax Relief on an exchange of interest in land or private residences held, prior to the disposal, by the partnership (in contrast to English partnerships).
This was not the intention of the relevant legislation (The Taxation of Chargeable Gains Act 1992), and the government will therefore amend it.