Kieran Coughlan: Seven weeks to check you can benefit from ‘retirement relief’

The next few weeks represent that last chance for retired farmers who currently let their land by conacre to switch to leasing, in order to retain capital gains tax benefits.

A special tax relief, commonly called “retirement relief”, allows farmers and other business persons to dispose of their trading assets after the age of 55, without capital gains tax.

The retirement relief rules apply to disposals to family, and to third parties, albeit different relief limits apply, depending on the category of disposal.