A friend of my fathers is planning to sell a site of land(2 acres). He owns over 40 acres. He has been farming for over 20 years but the site in particular is only owned for about 6 years. It is not been bought for agricultural use.
My question:
Can he still claim retirement relief, as he has held business assets(the farm) for more than ten years, or does he have to have owned the particular asset for sale for more than 10 years to avail of the relief?
My question:
Can he still claim retirement relief, as he has held business assets(the farm) for more than ten years, or does he have to have owned the particular asset for sale for more than 10 years to avail of the relief?