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Hi Alan,
Company director will be 54 years in Jan 2015 is suffering severe mental health/depression at present. The company has made losses for the past few months and is being wound down at present. Final net assets will be 800K. The director wants to avail of retirement relief under TCA97 S.598. Have you seen Revenue consider a claim for retirement relief at age 53 and a half years if applied for now, or will they only consider it at 54 years,please advise.
Many Thanks

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Posted by (Questions: 3, Answers: 0)
Asked on 6 August 2014 6:59 pm
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Mairead
If he liquidates now he will not get retirement relief – unless he can show he is suffering from terminal illness. My advice is to continue the business in a diminished capacity, however small, until he reaches 55. Then cease the business, liquidate and get the retirement relief.

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Posted by (Questions: 5, Answers: 4946)
Answered on 13 August 2014 10:15 am