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- September 29, 2019 at 8:04 am #547584Dear Sir I am having an issue regarding Entrepreneur relief. Question is as follows: On 30 June 2018, Michael sold a business that he had run as a sole trader since 1 Jan 2014. He realised the following gains and losses on the chargeable assets of the business: Goodwill 60,000. Freehold Property 64,000 Storage Unit (13,000) The Goodwill has been built up since 1 Jan 2014. The Freehold property had been acquired for 6 months prior to the date of disposal and the storage unit had been acquired for on 1 June 2015. Question: What is the net chargeable gain on the disposal of the sole trader business on 30 June 2018 that qualifies for entrepreneur relief? Answer is: Disposal of business: Goodwill 60,000 
 Freehold 64,000
 Storage (13,000)
 Net ER=111,000but in my notes its written Assets must have been owned for 1 year minimum prior to the date of disposal, then how come the freehold property is included in the gains qualifying for ER as it has been acquired 6 months prior to disposal. Please help October 3, 2019 at 12:16 pm #548013For ER to be available on the disposal of an unincorporated business it is the business that must have been owned by the individual for the minimum 12 month period. 
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