CGT Retirement Relief Proprietary Director

buidearg

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One of requirements for CGT relief is to be working director for no. of years
My wife satisfies all other conditions, holds 40% shares in the company.
Her name is not on letterhead or Company Annual Accounts , but for her PAYE she is classified as a Proprietary Director

For CGT retirement relief, would she qualify ?
 
You haven't said whether or not she is and has been a working director.

Get professional advice, retirement relief too valuable to leave to guesswork.

Agreed. It sounds like she may not be, and this is a point that Revenue are all over like a rash.
 
Section 598 TCA deals with retirement relief (not on disposal to family) and it does not define director. I would therefore take that to mean that a director as it is normally known (i.e. of the company and on the directors' register and CRO notification etc). There are various provisions which define director for specific chapters or parts but I don't think this is one of them. As T McGibney mentions you can should get advice on this as I've only taken a cursory glance as the retirement relief provision is very subtle/complex.
 
Ya every situation is different.

I had a case where the wife was a listed director for 20 years and the question arose whether she was in fact a full time working director on the basis that she did the admin for the business.
 
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