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Business Relief

  • 28-04-2018 11:31am
    #1
    Heisenburg81
    Closed Accounts Posts: 322 ✭✭


    Before I get given out to - I have researched and tried hard to find an answer to the below to no avail so any help appreciated;

    When CAT is payable after business relief applied in relation to shares inherited in a company - Is there a clause in legislation that where a company pays the CAT on behalf of the new shareholder/director that it can be treated as a capital item and not a distribution?
    A section reference is all I want please if possible.


Comments

  • #2
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    Heisenburg81 wrote: »
    Before I get given out to - I have researched and tried hard to find an answer to the below to no avail so any help appreciated;

    When CAT is payable after business relief applied in relation to shares inherited in a company - Is there a clause in legislation that where a company pays the CAT on behalf of the new shareholder/director that it can be treated as a capital item and not a distribution?
    A section reference is all I want please if possible.

    Not that I'm aware of.

    And if there was such a relief we'd all know about it, as it would be very lucrative in the current 33% climate.

    There wouldn't be much of a need / use for Section 60 policies either if there was.

    That's probably the answer to your question Heisenburg, a Section 60 policy to cover the CAT.


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