Entrepreneur Relief

Selling your Business ?  Tax Relief Available ?

Usually when you sell a business and its assets, capital gains tax applies at the rate of 33% on any gain on same

However, from the 1st January 2017, a new CGT rate of 10% applies to gains on selling a business assets up to a lifetime limit of €1 million

The relief applies to individuals only.

The qualifying business assets must have been owned by for a continuous period of 3 years in the 5 years immediately prior to the sale of the business assets.

This could be an alternative to retirement relief which applies only if you are more than 55 years old.

Subject to qualifying conditions

Any queries on same give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie