Entrepreneurs Relief For Software Sale
Posted: Tue Dec 04, 2018 10:06 pm
Myself and a partner built some computer software and ran it online with clients for 12 months. We then lent the software to a newly established company.
After 10 months of the new business running the company AND software were sold. 100% of the proceeds from the company sale went to another individual and we split the proceeds from the software sale 50/50. (50% for me and 50% to my partner)
The Entrepreneurs Relief conditions state that I must of owned/partnered with the "business" for at least 12 months.
Where does this leave me regarding the software which was owned and run for 22 months in total before the sale (the additional 12 months that completes the condition, but without a registered company)? Is this something I can claim on for ER?
Many thanks in advance!
After 10 months of the new business running the company AND software were sold. 100% of the proceeds from the company sale went to another individual and we split the proceeds from the software sale 50/50. (50% for me and 50% to my partner)
The Entrepreneurs Relief conditions state that I must of owned/partnered with the "business" for at least 12 months.
Where does this leave me regarding the software which was owned and run for 22 months in total before the sale (the additional 12 months that completes the condition, but without a registered company)? Is this something I can claim on for ER?
Many thanks in advance!