I bought this business and property within that timeframe, so my reading is that if I sell this business property and business assets I should be exempt from CGT.
Hi Coax
There seems to be two separate issues here.
First of all, the tax treatment of the sale of your property and your business.
Secondly, how do you invest the proceeds - I have moved this to a separate thread.
I am not a tax expert, but as far as I know, the CGT exemption applies to properties only and not to business assets as such.
Did you buy them separately?
Do you own the property in your own name or is the property held in a company? If so, does the same company own the business?
There is Entrepreneurial Relief for people selling their business, but I don't know how it works.
This is a very complex area. You need to do some serious tax planning now that means paying someone to do a proactive tax plan. There might be things you can do now to make the disposal more tax efficient next year.
You refer to Ireland a lot. Are you Irish resident and domiciled? If not, it's even more complex.
Brendan