Readers' forum : Calling it a day

Two brothers have traded for more than 40 years from land and buildings that they own personally. They never charged any rent to the business for the land and buildings used in the course of their trade. Subject to the normal rules applicable to entrepreneurs’ relief when they sell the land and close the business one assumes that entrepreneurs’ relief would cover the gain and the tax would be at 10%.

There is however a complication. On the edge of the plot are two cottages one of which has been rented out by one of the brothers who uses this as his personal income.

Without going into tedious detail the other cottage would certainly qualify as a residential property interest under the post-6 April 2016 rules.

My questions to readers are as follows. First would it be wise to have two separate bargains...