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Sam, Accountant
Category: Tax
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We have a client who partly own some land and they use the

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We have a client who partly own some land and they use the land to store their equipment which is for fairground rides. Can they claim entrepreneurs relief, and if so, do they need to apply within either within 30 or 60 days before the transaction to claim this relief?

Hi Paul

Thanks for your question

No I am afraid entrepreneurs relief would not be due on this land as not used within the trade, but just for storage purposes.



Customer: replied 1 year ago.
They also use the land for their trade which are fairground grounds. Does that change anything?


You advised it was just to store the equipment - is this not the case then ? - as land rarely attracts entrepreneurs relief its usually assets or shares. And this is not as asset it would seem



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