Have Tax Questions? Ask a Tax Expert for Answers ASAP
Hello, I am one of the experts on Just Ansqer and pleased to be bale to help you with your questions.
Corporate bodies are not subject to the UK Capital Gains tax (CGT) rules, all such transactions being passed through the trading account and being taxed under the Corporation Tax (CT) regime.
I do hope that you have found my reply of assistance.
Thank you for your support.
The approach by HMRC appears correct as corporate bodies are not subject to CGT.