Entrepreneur Relief: Who Qualifies and What You Get
Learn how Entrepreneur Relief can reduce the tax you pay when selling business assets, including the lifetime limits you need to know.
Entrepreneur Relief is a tax provision designed to reduce the amount of Capital Gains Tax you owe when you sell certain business assets.
Who it's for
This relief is for individuals who are selling or disposing of qualifying business assets.
What you get
When you qualify, you receive a reduced tax rate of 10% on your gains from the sale of these assets.
What it costs you
There is no direct monetary fee to access this relief, but you must strictly follow rules regarding how long you have owned the assets.
The catch to know
There is a lifetime limit on this relief. You can only apply it to a total of €1 million in gains over your lifetime.
How to apply
- Ensure you have met the required holding period for your assets.
- Calculate your total gains from the disposal.
- Follow the guidance provided by the Revenue Commissioners when filing your tax returns.
- Check the official government portal for the most current filing instructions.