I have been asked if Entrepreneurs' Relief is available to a limited partner in a private equity fund based offshore - he is UK resident and domiciled. From what I've been able to find out, a limited partner is just another name for an investor. He will receive a distribution of which 30% is return of capital and 70% is capital gain. The amounts are relatively small.
Does anyone know if it is possible for a limited partner in such an arrangement to obtain ER?
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