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Chargeable business assets

  • 30-12-2016 07:05PM
    #1
    Heisenburg81
    Closed Accounts Posts: 322 ✭✭


    Hello all,

    If a company's balance sheet consists of cash and working capital but no chargeable assets/business assets, can retirement relief still apply?
    The shares would be deriving their value from non chargeable assets.
    Is the formula Gain * CBA's/CA's only to be used where there are investments etc on the balance sheet?

    If not available, what happens in cases like this?


Comments

  • #2
    Lockedout2
    Registered Users, Registered Users 2 Posts: 402 ✭✭Lockedout2


    Revenue's view is that large amounts of cash are investments and that this does not qualify for Retirment Relief.


  • #3
    Heisenburg81
    Closed Accounts Posts: 322 ✭✭Heisenburg81


    Lockedout2 wrote: »
    Revenue's view is that large amounts of cash are investments and that this does not qualify for Retirment Relief.

    So extract pre retirement. Executive pension, termination payments etc
    Debtors and stock etc all ok?
    Btw - Can prof services companies directors get R Relief? Are they "trading"


  • #4
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    Business Assets are defined in the legislation for the purpose of the relief.

    Cash is not included from memory but you will have to look it up


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