where a group of individuals have set up a company with the intention to develop property, but given local market conditions are unable to sell the properties, and instead have temporarily rented the properties until conditions for sale are correct, would the winding up of a company via MVL be allowable for Entrepreneurs Relief, given the primary purpose was trade rather than investment. The majority of shareholder value has come from the development.
The individuals have done this once, and will not be seeking another venture, either together or separately.
I'm unsure whether this would be deemed a property rental business ergo investment income and therefore not qualify, or whether given the intended purpose was development, ergo a trade, it would qualify.
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