disposal of part of a business
Are you retiring or semi-retiring? Entrepreneurs' relief is given on the removal of the whole or part of a business. But what is meant by "part of a business"? 
 
Case law relating to retirement relief creates a division between the removal of an organisation/ part of an organisation and the disposal of an asset used in the organisation. 
 
An example; An owner of a taxi firm may wish to downsize the company. To do this he decides to sell some of his cars, and his storage locations such as a yard or a garage. The main business premises remains as well as the rest of the vehicles he wishes to keep. From this case its likely a capital gain arising on the sale of the yard or garage will not qualify for entrepreneurs' relief. 
 
In contrast, for example if the business was carried out from two different geographical locations, with completely different phone numbers, premises, clients etc. Then if one location was to be removed yet the other was to remain and trade as normal it would count as disposal of part of the business. 
 
Cases can vary via each business, but it's vital to take care whilst planning around your business as there may be some opportunity to reduce the possibility of losing a valuable relief. 
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