Capital Acquisitions Tax Business Relief

Revenue guidance has issued on specific issues arising because of Covid19.

Business Relief allows a reduction of 90% in the taxable value of certain business assets that comprise a business for the purposes of calculating gift and inheritance tax. To avoid a clawback of the relief, a gifted or inherited business must continue to trade for the period of 6 years after the valuation date for the gift or inheritance.  The relief will not be clawed back where, because of Covid-19 restrictions, a business ceases to trade temporarily during this 6-year period.  

The normal practice of not imposing a clawback where a business ceases to trade because of bankruptcy or bona fide winding up on grounds of insolvency will continue to apply. 


This site uses Cookies to ensure the best experience. By continuing to use this website, you agree to their use.