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M Gilbert (t/a United Foods) v HMRC

In M Gilbert (t/a United Foods) v HMRC (TC01542 – 24 November) a trader (G) had carried on a business of selling food on commission representing nine different suppliers. In 2008 he agreed to sell part of his business to one of the suppliers (F) under an agreement whereby he agreed to have no further contact with F’s customers. He made a gain of £285 000 on this disposal. In his tax return he claimed entrepreneurs’ relief reducing the gain by four-ninths. HMRC rejected the claim on the basis that G had not disposed of ‘an identifiable part of the business’. G appealed contending that his business had comprised nine different parts (ie one part for each of the suppliers he represented) and that he had disposed of one of those parts. The First-tier Tribunal accepted this...

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