Entrepreneurial Relief

[simpsonite]

Hi all,

Client has sold a piece of land in 08/09. This was part of a working farm which ceased back in 1989.
Client was holding off sale to wait for planning permission.

As this land was originally part of the Farm, would Entrepreneur relief be available or would it fail because it was sold after 3 yrs of farm cessation.

Cheers,
simpsonite

[AvocadoK]

HI S,
Your suspicions are well founded. A sale of assets has to happen within 3 years of cessation to get ER.
AK

[simpsonite]

thanks for that AK