In the case of The Motoring Organisation Ltd v Spectrum Insurance Services Ltd the High…
Entrepreneurs’ relief: significant change in business
PLEASE NOTE: Information in this article is correct at the time of publication, please contact DFA Law for current advice on older articles.
The First-tier Tribunal (Tax Chamber) has held that a significant change in business constituted a cessation of one business and the commencement of a second business. Consequently, the taxpayer in this case was able to claim entrepreneurs’ relief on the disposal of an asset used in the first business within three years of cessation of that business.
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