ABOLITION OF MILK QUOTAS – RESTRICTION OF CGT LOSSES

Milk Quotas - Restriction of CGT LossesMilk quotas were abolished with effect from 1 April 2015.

Section 538 of the Taxes Consolidation Act 1997 allows relief in respect of assets such as milk quotas.

However for milk quotas purchased after 1st April 2000, the loss is restricted to the amount of capital allowances granted.