I am inheriting or receiving a gift of a business property. What reliefs are available to me?

If you are inheriting or receiving a gift of a business property, you may qualify for Business Relief.  Business Relief applies to the transfer of a business, shares in a business or the shares or security of a company carrying on a business.  In essence, it reduces the taxable value of the business, in respect of Capital Acquisitions Tax, by 90%.  It should be noted that if you don’t qualify for Agricultural Relief in respect of agricultural property, you may qualify for Business Relief.

Certain assets can’t be included in the calculation for Business Relief. They include assets which are not being used for the purpose of the business, assets purchased more than two years before the gift or inheritance and not used wholly or mainly for the purpose of the business and any new business bought by the company within the minimum ownership period.  The minimum ownership period means that the person making the gift or inheritance must have owned the relevant business for a continuous period of the one of the following:-

  1. At least two years immediately prior to the date of inheritance in respect of the death of the person giving the inheritance; or
  2. In the case of a gift five years immediately prior to the date of the gift or inheritance.

If you claim Business Relief, you need to ensure that the business continues to trade for a further six years from the date of the gift or inheritance, or the relief can be fully or partially withdrawn.  Furthermore, the business can’t be sold, redeemed or compulsorily acquired within six years of the date of the gift or inheritance or the relief could be withdrawn.

If the relief comprises of development land and is disposed of within ten years of the date of the gift or inheritance, then the relief can also be withdrawn.


You can contact McCormack Solicitors on


Phone: 071 9621846


The contents of these pages are provided as an information guide only. While every effort is made in preparing material for publication no responsibility is accepted by or on behalf of McCormack Solicitors for any errors, omissions or misleading statements on these pages or any site to which these pages connect.


Speak to A Specialist Solicitor

Wherever you are in Ireland, our team of experienced solicitors are ready to talk to you about your case. Just call  071 9621846 or email Alternatively, request a callback or send us a message and we will get right back to you.
*In contentious business, a solicitor may not calculate fees or other charges as a percentage or proportion of any award or settlement.

Get in Touch

We will process your data in accordance with our Privacy Policy. Withdraw this consent at any time.
Scroll to Top