Taxpayer acquired 40% share in a trading partnership several years ago buying 40% of the land and property off a retiring partner. Taxpayer aquired another 10% share six months ago buying 10% of the land and property off a retiring partner. Taxpayer has decided to retire from the business and sell what is now their 50% share of land and buildings. Are they entitled to Entrepreneurs' Relief on the entire gain, or only the 40% they've owned for more than 2 years? I've looked through HMRC manuals and it is not clear. I have spoken to HMRC and they say it can only be claimed on the 40% and not the 10% held for less than 2 years.