Entrepreneur relief

Entrepreneur Relief

You may claim relief from capital gains tax (cgt) if you made gains from selling business assets such as your business.

There is a lifetime limit of €1 million on the gains that you can claim relief on. Only gains on disposals made on or after 1 January 2016 are counted in the limit. This relief replaced a relief that applied for the years 2014 and 2015.

If you can claim this relief, you must pay CGT at the rate of 10% on gains from the disposal of business assets. This is reduced from the normal rate of 33%. Up to 31 December 2016, gains from such disposals are charged at 20%.

Subject to qualifying conditions

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