{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-59",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-59.json",
  "legislation": "ukpga/1992/12",
  "legislation_title": "Taxation of Chargeable Gains Act 1992",
  "legislation_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992",
  "path": "section/59",
  "kind": "section",
  "number": "59",
  "heading": "Partnerships.",
  "text": "(1) Where 2 or more persons carry on a trade or business in partnership—\n(a) tax in respect of chargeable gains accruing to them on the disposal of any partnership assets shall, in Scotland as well as elsewhere in the United Kingdom, be assessed and charged on them separately, and\n(b) any partnership dealings shall be treated as dealings by the partners and not by the firm as such, ...\n(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(2) Subsection (3) applies if—\n(a) a person resident in the United Kingdom (“the resident partner”) is a member of a partnership which resides outside the United Kingdom or which carries on any trade, profession or business the control and management of which is situated outside the United Kingdom, and\n(b) by virtue of any arrangements that have effect under section 2(1) of TIOPA 2010 (“the arrangements”) any of the chargeable gains of the partnership are relieved from capital gains tax or corporation tax in the United Kingdom.\n(3) The arrangements (so far as providing for that relief) do not affect any liability to capital gains tax or corporation tax in respect of the resident partner's share of any chargeable gains of the partnership.\n(4) For the purposes of subsections (2) and (3) the members of a partnership include any person entitled to a share of chargeable gains of the partnership.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 59(1) renumbered (with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 431(2) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 59(c) and preceding word repealed (with effect in accordance with Sch. 29 Pt. VIII(16) of the amending Act) by Finance Act 1995 (c. 4), Sch. 29 Pt. VIII(16)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "S. 59(2)(3) inserted (with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 431(3) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 59(2)(b) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 43 (with Sch. 9 paras. 1-9, 22)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 59(2)(b) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 28"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in s. 59(2)(b) inserted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 365(2) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in s. 59(3) inserted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 365(3)(a) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in s. 59(3) inserted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 365(3)(b) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in s. 59(3) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 28"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "S. 59(4) inserted (retrospective to 6.4.2005) by Finance Act 2008 (c. 9), s. 58(2)(4)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Words in s. 59(4) substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 28"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/section/59",
    "retrieved_at": "2026-10-29T09:36:15.270072+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}