If you own a business in Ireland, it’s important to have a plan for the future. It is a good idea to seek advice well in advance of your exit from a business or farm. This helps you to capitalise on any opportunities to maximise the value of your business asset. It also helps make sure you meet the conditions of any reliefs or exemptions you may be eligible for and avoid common pitfalls.
Expert advice when selling a business in Ireland
Whether transferring your assets during your lifetime and/or afterwards, we can advise you on the best way to achieve your preferred outcomes. We provide an independent view of the business and impartial analysis of your situation. We work with business owners, but also with people who have built up significant investments, land holdings, or wealth.
We can support with:
- Succession planning
- Transfer or sale of a business asset
- Tax planning
CGT & CAT
When selling or transferring a business the profits may be subject to Capital Gains Tax (CGT) at 33%. The person receiving the asset may need to pay Capital Acquisitions Tax (CAT). And other taxes like stamp duty may need to be paid. However, there are reliefs available to help reduce these tax bills. It is important to plan in advance to benefit as much as possible from these reliefs.
Read more about selling a business in Ireland here
Plan your exit strategy with TaxAssist
It’s never too early to start planning. We recommend you have a plan some years before your expected exit from a company so that you can minimise or eliminate tax upon the transfer or sale. It is definitely worth having a relationship with a tax advisor so you get the outcomes you want. If you are planning an exit strategy contact us here
Join us in three easy steps
Get in touch
Arrange a free consultation in person or via video with your local accountant. It’s an informal chat to get to know you and find out more about the help you are looking for.
Chat to an expert
We clearly explain the support available to you and are happy to act as business advisors in order to help you grow your business.
Get a fixed quote
Our fees are fixed and tailored specifically to each individual's needs, so that you only pay for the level of support and services that you require.
Choose the right accounting firm for you
Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?
We specialise in supporting independent businesses and work with 6,246 clients. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.
We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accountant. You can visit us at any of our 23 locations, meet with us online through video call software, or talk to us by telephone.
Changing accountants is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.