188体育

Entrepreneurs鈥� relief

An individual may qualify for entrepreneurs鈥� relief (TCGA92/S169H) when their business becomes a partnership. A partner may also qualify for entrepreneurs鈥� relief when there is a disposal of part or all of the partnership business.

A partner may qualify for entrepreneurs鈥� relief (subject to the normal conditions) when he disposes of all or part of a fractional share in shares which are held as partnership assets.

Guidance on entrepreneurs鈥� relief in relation to partnerships is at CG64040.

鈥淩oll-over鈥� relief

Roll-over鈥� relief (TCGA92/S152) may be available to a partner where there is a disposal of a partnership asset and the proceeds are re-invested in another asset which is also used for trade purposes.

Guidance on 鈥渞oll-over鈥� relief in relation to partnerships is at CG61150.

鈥淩oll-over鈥� relief on transfer of a business

鈥淩oll-over鈥� relief on transfer of a business (commonly called 鈥渋ncorporation鈥� relief) is available to a partner where the whole of the partnership business is transferred to a company as a going concern, in exchange for shares (TCGA92/S162).

Guidance on 鈥渋ncorporation鈥� relief is at CG65700.

Gift 鈥渉oldover鈥� relief

鈥淗oldover鈥� relief for gifts of business assets (TCGA92/S165) is available to a partner, in a partnership that is transparent for tax purposes (CG27000), when the partner disposes of a share in a partnership assets (subject to the normal conditions for this relief).

Guidance on gift 鈥渉oldover鈥� relief is at CG66880.

Partnership Manual

There is more information on the capital gains reliefs available to partners in PM272300.