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Entrepreneurs Relief - two partnerships.....

.....but only selling one

Partnership 1 consists of two partners, A & B, (50/50 shares)

Partnership 2 consists of three partners, A, B & C, (33/33/33 shares)

Both partnerships do the same thing, (dentists), but operate in different locations and have different staff.

Partnership 1 is to be sold, to an unconnected third party, with the incumbent partners providing a one year handover consultancy. Partnership 2 will continue to trade.

Will the sale qualify for E/R? (Traded > two years, sale under E/R lifetime limit)

 

I think I'm becoming guilty of reading into things that arent there! Maybe it's time to retire :-)

 

 

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