CGT Retirement Relief Query

orourkc7

Hoping someone can clarify a retirement relief query regarding my parents business, a small café. I think retirement relief will apply in full.

The Café is operated as a Company with limited assets actually held in the Company name (less than 10k). The main assets is the building which they operate out of which is not held in the Company name but has been the place of business for over 20 years. Rather, this is held

• 50% by my uncle (director of the Company for over 20 years)
• 25% by my mother ( director of the Company for over 20 years) over 66
• 25% by my father (not a director and only did minor work, was not full time employment)

Could someone clarify what retirement relief is open to each individual? Are my mother and father treated separately?

From what I can see relief would apply as follows:

• €750,000 for my uncle
• €500,000 for my mother
• €750,000 for my father (family trading Company)

My knowledge is shaky at best though!!!

Thanks

Paddy001

It will depend upon the shareholding of each and whether they meet the working time requiremeets for a start.