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Is entrepreneur’s relief available- part disposal?

Successful partnership trading business disposal of business premises only

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Self-employed 2 many partnership trading businesses has received planning permission for redevelopment of their business premises. I am looking at options and the incorporation of the whole business is under TGCA1992 s165 is one solution to extract profits tax efficiently etc.

However, I am wondering if would it be possible to get entrepreneur’s relief if only the premises were sold to a connected limited company and the partnership business carried on. I don’t it will work but would appreciate comments.

Thank you in advance.

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By SteLacca
19th Oct 2018 10:45

S169I, K and L should give you your answer.

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By Justin Bryant
19th Oct 2018 12:10

Obviously no ER would apply here. With planning it could potentially apply (under the cessation of business route only and the sale to the company of the whole (or part of the) business as a going concern would achieve that, but equally s162 incorporation relief could be achieved there, so I doubt ER would be preferable unless perhaps a sale of the company is expected).

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Replying to Justin Bryant:
By Martin B
21st Oct 2018 09:32

Thank you Justin

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