Alan, I have a client who transferred his farm trade to a limited company 3 years ago. The shareholders are the farmer & his son (50% each) who both farm on a full time basis. At the time of the transfer, the land was kept in the farmer's own name. For the purpose of the directors current account, the client is now looking to transfer the land into the Limited Company. He is over 55 and has farmed the land for more than 10 years (taking into account period farmed in sole trade). Can he avail of Retirement Relief up to €750,000 on the transfer of the land now? I understand there will also be Stamp Duty due on the transfer.
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