6 March 2014
Entrepreneurs Relief Has the business ceased?
Mr Rice ceased one business selling sporty used cars because of vandalism and after a short gap started selling family cars from a new site nearer to his home relying on internet introductions. When the land on which the first business had traded was sold HMRC denied Entrepreneurs Relief on the basis a used car sales business had continued throughout. The First Tier Tribunal did not agree and Entrepreneurs Relief was available. Situations such as this are never clear cut and turn on the way a Court interprets the facts on a particular day.
