Retirement relief informed decisions podcast

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Bill90.

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Hi

I just listened to the most recent informed decision podcast and the guest speaker clearly says if you build up cash in your company, are over 55 and have owned the company for 10 years that you can liquidate the company and take up to €750,000 at 0% CGT.

Is this accurate?
 
Bill90. said:
Would this include liquidating the business and getting the 750k tax free?
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If you are thinking of availaing of retirement relief then almost certainly you should seek professional advice.
 
ClubMan said:

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If you are thinking of availaing of retirement relief then almost certainly you should seek professional advice.
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I'm only starting out but trying to have a good longterm efficient plan.

I will always have a rental income so my pension down the line will be taxed at the higher rate after the lump sum.

It's all a long way off so I'm just brainstorming really.

But yes I absolutely agree about the professional advice before doing anything like so.

Thanks
 
Bill90. said:
I'm only starting out but trying to have a good longterm efficient plan.

I will always have a rental income so my pension down the line will be taxed at the higher rate after the lump sum.

It's all a long way off so I'm just brainstorming really.

But yes I absolutely agree about the professional advice before doing anything like so.

Thanks
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In your position, I wouldn't be paying any heed to hearsay on podcasts, radio shows and the like. A particular tax treatment may be in vogue right now but Revenue can change that on the slightest whim, and most such changes rarely attract publicity.
 
T McGibney said:
In your position, I wouldn't be paying any heed to hearsay on podcasts, radio shows and the like. A particular tax treatment may be in vogue right now but Revenue can change that on the slightest whim, and most such changes rarely attract publicity.
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Yes I agree with that also. It will be 25 years before I'll be looking at retirement and I'm sure it will be a totally different landscape by then too.
 
Bill90. said:
I'm only starting out but trying to have a good longterm efficient plan.

I will always have a rental income so my pension down the line will be taxed at the higher rate after the lump sum.

It's all a long way off so I'm just brainstorming really.

But yes I absolutely agree about the professional advice before doing anything like so.

Thanks
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I see on your other thread you've only started out and aren't making any money yet.

I'd concentrate on making it through year 1 first!
 
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T McGibney said:
In your position, I wouldn't be paying any heed to hearsay on podcasts, radio shows and the like. A particular tax treatment may be in vogue right now but Revenue can change that on the slightest whim, and most such changes rarely attract publicity.
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I think you mean the Government of the day!
 
To go back to the original query, yes, it’s quite straightforward to claim retirement relief on the liquidation of a company with €750k of cash on its balance sheet.

I would get professional advice from a qualified tax adviser.

But 25 years out, I wouldn’t hang my hat on it still being possible.
 
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