CGT retirement relief guidance updated

Section 598 TCA 1997 provides a relief from capital gains tax (CGT), in certain circumstances, to an individual on a disposal of business assets. As the individual must be aged 55 or more, this is commonly referred to as ‘retirement relief’. Differing levels of relief apply to individuals aged 66 years or more at the time of disposal. With effect from 1 January 2025, these differing levels of relief apply to individuals aged 70 years or over. 

Revenue has updated the Tax and Duty Manual which provides guidance on disposals of business or farm on “retirement” as follows: 

• To reflect Finance (Covid-19 and Miscellaneous Provisions) Act 2022 changes 

• To reflect Finance (No. 2) Act 2023 changes 

• To remove content no longer relevant, and 

• To update examples.