Entrepreneurs' relief

A part time farmer ( he is also employed as a postman) who has been trading as a sole trader is in a situation whereby he has to sell up.

He has land to sell and the likely taxable profit for CGT is £30K

If half the land is  transferred to his wife before the sale then the CGT liability can be minimised.

I understand that he will be able to claim Entrepreneurs' relief. It is possible for his wife to do the same if we registered her as a partner before the sale?

 

Many thanks

 

Tim

Comments
There are 2 comments. Login or register to view them.

In principle yes

girlofwight |

Many thanks.

TheBooks |