A client of mine set up a partnership in 2010 (before they were a client of mine) and bought a property to let to a limited company of which one of the partners has been a director throughout the period and another for part of it.
The property was sold in 2019/20 and they want me to work out the tax on the capital gain and I am not sure they are eligible for Entrepreneurs Relief as the partnerships only activity was let the property (i.e. not trading).
Am I right and if so could there be any alternative elections I could make to reduce the tax charge?
Thank you for any help given.