sale of shares in close company

Have a client who was 50% shareholder and joint director of his own company until a couple of years ago.  Sold his shares to the other director and resigned as a director at the same time,  but had not been an employee for over a year prior to the sale.  Is the fact that he was still an officer of the company sufficient for him to have ER, as the company was still trading in that year?

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Director- officer

Steve Knowles |
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