Business Assets

This page deals with the definition of business assets for Entrepreneurs' relief purposes. For shares which qualify for Entrepreneurs' relief see

There are several different categories of assets which may qualify:

Assets used in a business carried on by an individual or a partnership which were comprised in a disposal of the whole or part of that business
"For these purposes business means any trade or profession but not the letting of property other than than as furnished holiday lettings in the UK or EEA. For detailed commentary on furnished holiday lettings see here.""There is a distinction between the disposal of all or part of a business on the one hand, and the disposal of an asset or assets used in that business. Disposals of the latter will not qualify for Entrepreneurs relief. For commentary on this see here""From 3 December 2014 gains on the disposals of Goodwill are not eligible for Entrepreneurs relief where the disposal is to a close company and the individual making the disposal is a related party to the acquiring company. For a detailed discussion of these rules see Entrepreneurs relief restriction on disposals of goodwill here"

Assets owned by an individual personally which were used in a business carried on by that person in partnership or by a personal trading company
These are known as associated disposals