Susan Dunne who is a $54$ year old widow has come to you for advice, She owns $50\%$ of the issued shares in MM Ltd$,$ a manufacturing company she established with her late husband Mick, in $1979.$ Mick died a number of years ago. Susan bought the shares for $5,000$ in March $1979.$

Included in the company$$s assets is a house, bought $5$ years ago for $300,000$ and now worth about $150,000.$ The house is adjacent to the business premises, and was bought because Susan thought they might incorporate the offices into the house. They secured planning permission but never proceeded with the plan, and the house has been let since at a rent of $700$ per month. Also included in the company$$s assets is a portfolio of quoted investments bought in $1994$ for $75,000.$ These are currently valued at $200,000.$

Susan has worked full time in the company since its opening, and has always been a director. When her husband died in $2012,$ he left his $50\%$ of the shares in the Company to their only son Richard who has worked in the company and been a director of the company since then.

Susan feels the time has come to leave the business. She wants more leisure time, but she also acknowledges that there are increasing strains between her and Richard about the direction the company is taking. She feels that her continued presence will not alone inhibit him in developing the business but may damage her personal relationship with him. That said, she does not feel there is any urgency about her retirement.

She has been approached by a local investor who has offered to buy some or all her shares, at market value, She is reluctant to do this as she would like the company to remain in the family. Richard has no material funds, but feels he may be able to borrow up to $35,000$ in a personal capacity.

Susan has her own house, which she has lived in since May $1982.$ It has been valued at $350,000,$ and the valuer also indicated that it could produce an annual rental income, $($net of expenses$),$ of about $14,000,$ She has considered selling her house as she would rather like the idea of living in the house adjacent to the Company. She also has an apartment which she bought in November $2000$ for $160,000,$ and is unsure how much it is worth today, but a lady in the golf club told her it was worth $200,000.$

The shares in MM Ltd are valued by reference to the net asset value of the company. The market value of the assets and liabilities of MM are:

Goodwill $100,000$

Factory Premises $520,000$

Quoted Investments $200,000$

Property $($house$)150,000$

Plant and Machinery $350,000$

Inventory $40,000$

Bank $80\mathrm{.}000$

Total $1,440,000$

Payables $100,000$

Loan $610,000$

Share Capital & Reserves $730\mathrm{.}000$

Total $1,440,000$

You are required to write a professional report for Susan providing appropriate advice for her circumstances, as presented above. The report should address the following points:

$1.$Advise Susan of the Capital Gains implications if she disposed of her shares now.$(20$ marks$)$

$2.$Advice susan whether she should dispose of her shares now or at a later date that more beneficial to her from a tax point of view and whether it would be better to dispose of them to her son Richard or the local investor. Give reasons for your advice.$(50$marks$)$

$3.$Explain to Susan whether she would have a Capital Gains tax liability if she decides to sell

a$)$ Her own house $(10$ marks$)$

b$)$The apartment $(10$ marks$)$

Presentation and referencing $(10$ marks$)$

Total $(100$marks$).$please use irish law and also list conditions necessary to qualify for any reliefs she can apply for and which conditions she satisfies.calculate for me cgt if she sells the shares now and if she gets entrepreneur Relief.and also please clarify how i can use the second paraghraph and in which calculation can it be important $.$do cgt calculation for all the reliefs she can qualify for now or in the future.thank you