Tom transferred the family business to his daughter Anne on 10 April, 2017.
The market value is €4,000,000. Liabilities, costs and expenses amount to €20,000. Anne provided €55,000 in consideration.
Calculate Business Relief
|
Value |
Market value |
€4,000,000
|
Less liabilities, costs and expenses |
€20,000
|
Less consideration |
€55,000
|
Taxable value before relief |
€3,925,000
|
Less Business Relief (90% of taxable value) |
€3,532,500
|
Taxable value after relief |
€392,500
|