Revenue Note for Guidance

The content shown on this page is a Note for Guidance produced by the Irish Revenue Commissioners. To view the section of legislation to which the Note for Guidance applies, click the link below:

Revenue Note for Guidance

98 Value of business

Summary

This section explains how a business, or a share in a business, is to be valued for the purposes of the relief.

Details

(a) The value of a business or of an interest in a business is its net value.

(b) Subject to paragraph (c), the net value of the business is the market value of the assets used in the business (including goodwill) reduced by the aggregate market value of any liabilities incurred for the purposes of the business.

(c) In determining the net value of an interest in a business (e.g. a partnership), only the assets or liabilities of the business as a whole are taken into account, and not the assets or liabilities of individual partners even if they were used or incurred for the purposes of the business.

Relevant Date: Finance Act 2015