Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Retirement Relief

  • 20-01-2022 09:08PM
    #1
    Registered Users, Registered Users 2 Posts: 7,830 ✭✭✭


    I looked online including on Revenue.ie and other sites but can't find (or am too think to identify) a definitive answer to the following, purely hypothetical question:-

    Can the 100% shareholder of a small Ltd company set up with €100 share capital back in 1980 who meets all the criteria for retirement relief but doesn't have family succession and can't find a buyer for his business, wind the business down through an orderly liquidation (collect all debts, pay all liabilities, redundancy and tax due etc) and distribute the €500,000 net proceeds (to himself) whilst claiming retirement relief or will he have to pay CGT on the €499,900 capital gain?

    Thanks in advance for any clarifications.



Advertisement