Question asked:

0
0

From my reading of CGT Entrepreneurs Relief under TCA 1997 s 597AA, a sole trader must have owned the chargeable business assets for 3 out of the 5 years prior to the disposal.

Furthermore, they must be disposing of chargeable business assets which were used for the purposes of a qualifying business carried on by an individual. But there doesn’t seem to be a requirement for the business to be carried on at the date of disposal.

Thus, it would appear that the relief would apply to a business that has ceased for 2 years, but was carried on for 10 years prior to that. Does this seem correct or am I missing something? Many thanks

Marked as spam
Posted by (Questions: 12, Answers: 2)
Asked on 18 December 2018 3:23 pm
80 views