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SteveC5353
New Member
I own a flat that's in a block of 12 flats, and the management company that runs the flats bought the freehold 15 years ago for £20k. We've recently had an offer from a developer to buy a part of the land for £500k. Can anyone offer advice as to whether the management company will need to pay corporation tax on the sale, and if the money is distributed to each flat owner, will they be liable to capital gains tax as well?