Entrepreneur Tax Relief

Entrepreneur Tax Relief in Ireland

At 33%, Ireland has one of the highest rates of CGT (capital gains tax) in the world, and therefore in 2013 the Irish government introduced Entrepreneur relief / Entrepreneurial Relief as an incentive for serial entrepreneurs. This was meant to be a reward for those willing to take risks that may benefit the economy and aims to encourage reinvestment.

Tax on Selling Your Business / Disposal of Your Business

Although the scheme was originally introduced in 2013, in 2015 a revised version was created, which is still in place now.  This relief reduces the rate of CGT from the normal 33% to 10% when selling qualifying assets. You can only claim relief on up to €1 million, which is the lifetime limit. 

Are you interested in finding out whether you would qualify for Entrepreneur tax relief on selling your business? Go For Brokers has a shortlist of Independent third party accountants / tax consultants who can advise you on this matter. To find out more, please contact us here.