Entrepreneurial Relief
Entrepreneurial Relief may be available to shareholders who cannot avail of retirement relief.
This relief provides that a 10% rate of CGT applies in respect of chargeable gains on disposals or part disposals of qualifying business assets, on or after 1 January 2017, up to a lifetime limit of €1 million. The shareholders if they are eligible for this relief can avail of substantial tax savings if they liquidate.
We highly recommend that you receive trustworthy independent advice as individual’s circumstances may be different when seeking to avail of these reliefs. We, as a team have wide experience of liquidating solvent companies and we would be delighted to assist in any way we can.
If you any questions on the topic of Entrepreneurial Relief, do not hesitate to contact William on wbc@careyaudittax.ie or 061 372001.