Retirement Relief for CGT

[Yellow Belly]

Should a farmer over 55 years old sell his farm (10 acres) for €500k (agricultural value approx. €200,000). Would his retirement relief be restricted?

Has anyone come across this previously? Are there any measures which can be taken to reduce or nullify any liabilities which may arise?

 

[Nige]

Retirement relief is not restricted if the land has development value.

So long as the other conditions are met (proceeds of no more than 750k, farming asset held and farmed for 10 years ending with the disposal and farmer aged 55 or older) then retirement relief will apply.