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Entrepreneurs鈥� Relief was renamed in Finance Act 2020 with effect from 6 April 2020.听 The new name is generally used in this guidance but should be read as applying to times before that date.

TCGA92/S169K

Business Asset Disposal Relief may also be due where there is a relevant material disposal and an associated disposal of an asset owned by an individual but used for the purposes of a business carried on by either -

a partnership in which the individual is a partner, or

a company which is the individual鈥檚 "personal company".

听

This rule allows relief where an individual owns an asset personally and it is used for the trade of a partnership of which he or she is a member, or their personal company.

The conditions which must be met for a disposal to qualify were changed by FA15/S41 and FA16/S84 which amended TCGA92/S169K.

The new rules apply to any disposal made on or after 18 March 2015.听 The main change is the introduction of a minimum size for the relevant material disposal, being the disposal of partnership interest or shares.

CG63996 explains the rules from 18 March 2015 and CG63997 the previous rules.

CG63998 discusses the requirement for a 鈥渨ithdrawal from the business鈥� which is used in both versions of the rule and CG63940 provides examples.

CG64145 explains the circumstances in which the amount of the gain on an 鈥渁ssociated disposal鈥� that qualifies for Business Asset Disposal Relief may be restricted.