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Fisherman has sold his boat and licence to a third party. He has been in business for more than ten years and the boat has had all capital allowances claimed on it. I was initially calculating a balancing charge on the boat sale but am inquiring about claiming the entrepreneur relief. The client is no longer trading as a fisherman and his sole income is as a PAYE employee. Could I claim entrepreneur relief on the boat sale? It was his principal fishing vessel too. He had traded as a sole trader.

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Asked on 19 January 2017 5:13 pm