Revised Entrepreneurial Relief is one of the most valuable tax reliefs available to Irish business owners — but it’s widely misunderstood. In this Tax Tip, I break down how it works, who qualifies, and the key conditions you need to meet.
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Key Points
Entrepreneurial Relief allows qualifying business owners to pay a reduced rate of 10% CGT on the disposal of qualifying business assets, up to a lifetime limit of €1 million in chargeable gains. That’s a significant saving compared to the standard 33% CGT rate.
But the conditions are specific. You need to have owned the business for at least three years. You need to have spent at least 50% of your working time in the business. And the assets being disposed of need to qualify — not all do.
If you’re thinking about selling your business or a significant part of it, getting Entrepreneurial Relief right could save you tens of thousands of euro. Getting it wrong could cost you the relief entirely.
Thinking about selling your business? Talk to me first — a short conversation could make a meaningful difference to your tax position.
