My partnership client purchased premises in 1982. These premises were used exclusively for the business until August 2008 when the trade was moved to new premises. The old premises were empty until sold for redevelopment on 5 April 2012.
The partnership has six partners, five of whom owned the premises until they were sold. One property owner retired on 31 May 2007 and another two on 30 September 2008.
Is any enterprenuers relief available for any partner for any period of ownership (as the premises were used by a partnership so would have qualified for business taper relief up to 5 April 2008)?