Business Asset Disposal Relief

[Tombo1]

Dear All,
I hope this is the right forum to post this. If not please advise a better location.
The situation is. 
Jewellery manufacturing and retail business started in 1980s as sole trader partnership. My wife and myself.
My long term, but recently diseased Accountant had always said to write down any stock unsold by the end of the year as scrap. 
We have accrued circa £1.7m of stock at todays scrap values.
Our bookwork says we have circa £100k as no stock that was correctly written off over the years has been re priced to current levels.
Gold used to be trading around $200 per ounce.
Gold is currently $4500 ounce.
Gemstones have gone up in value dramatically over the period too.
Our newish accountant said there is a retirement relief facility where we can sell all our assets, including stock, through a registered Liquidator. This means all of it will be taxed at a flat rate as long as we don't have anything to do with the jewellery trade for two years.
We wish to retire and this would be a great way to minimise our tax going into retirement.
The liquidator however has said the scheme is for LTD companies only. 
My tax advisor is now being very fluffy with what we need to do and whether he got this wrong. 
This is obviously extremely important to get right especially with gold prices so high right now.
Can anyone advise?

[pawncob]

It looks as if you've under declared profits of £1.7m over 45 years.

[Tombo1]

Not at all.
Why would you think that?
My understanding is stock can and should be left at the write down price in the year it was purchased. This is certainly what I was advised. The tax is only realised on the sale of stock.
The issue is now I am at retirement can I use Business Asset Disposal Relief to overcome the pretty big profit I will make if I scrap out all my stock at the vastly inflated gold prices that have arisen recently?

[bd6759]

Stock should be valued at the lower of cost or realisable value.

Curious that you have gold reserves dating back 45 years! Was that gold not used to make jewellery?

BADR applies to the value of your business, which includes the stock at cost. Anything you receive above that is trading income and not covered by BADR.

[Tombo1]

Thank you.
I have items of jewellery dating back to the late 80s that once we made we have just kept. I guess to an extent as an investment.
Our accountant has certainly given me the wrong advice then as they said everything sold could receive a flat rate of tax under BADR.
Thanks for your reply confirming my belief.