Entrepreneurs' relief

I read with interest Lesley Stalker's thoughtful article Patchwork legislation.

Lesley highlights many of the winners and losers following the introduction of capital gains tax entrepreneurs' relief (ER).

However I do not think that the position for sole traders is quite as bad as Lesley's article suggests.

This is the position as I see it as follows.

New TCGA 1992 s 169H requires there to be a 'qualifying business disposal' otherwise relief cannot arise. Inter alia a material disposal of business assets as defined by s 169I is to be regarded as a qualifying business disposal.

New TCGA 1992 s 169I then defines what is meant by a material disposal of a business asset. As regards a sole trader it means either:

(a) a disposal of the whole or part of a business (which must be distinguished from mere sale of...