Category Archives: Business Transfer

Be Careful with Redundancy Payments

Finger pointing at you

Be careful with redundancy payments. Why? Read on and you’ll find out. Let’s look at some of the issues involved that include Background Taxes at play Tax-free redundancy payments Case for the taxpayer Revenue Query Appeal Commissioner Summary Background To provide some background I’ll introduce you to the main characters. There’s dapper Dan O’Neil and

Having Enough Income in Retirement

Happy Older couple

Having enough income in retirement is a question that we all think about as we get older. But how much is enough? It depends on your standard of living, but most people want to be comfortable. Comfortable, for me, means a decent car, going for a few meals out, and a foreign holiday. Being able

Retirement Relief – Changes in 2025

Happy older couple

There are Retirement Relief changes in 2025. From 1 January 2025, Revenue will introduce some new rules. Why 2025 and not 2024? The thinking is that it allows business owners to benefit from the old rules. Some planning opportunities in 2024 before the changes in 2025 kick in. You’ll see what I mean below, at

Business Exit Planning

Exit sign

This week we’ll have a look at business exit planning. What are the things you should be discussing with your advisor? And what would you like to achieve? The main talking points will be Meet Maeve O’Leary How do I value my business Tax efficiency Future options Maeve O’Leary Maeve O’Leary, or Mol to her

Management Buy Out – Success Story

When you sell your business is a Management Buy Out an option? We look back at an MBO success story that we were privileged to be involved in. Ben and Jenny Fox own Fancy Goods Ltd which sells luxury products to wealthy individuals. They have a shop and a growing online presence. Vera and Katie

Retirement Relief – 5 Tips

older couple holding hands

We will take a closer look at Retirement Relief and give you 5 Tips that can help you plan. “When I get older losing my hair Many years from now Will you still be sending me a Valentine Birthday greetings bottle of wine If I’d been out till quarter to three Would you lock the

Retirement Relief – Business Owners

Cute Deer

We will discuss a recent case that involved Retirement Relief and farming. This case is not only relevant to farmers but to business owners too. It came up on my news feed last night and piqued my interest. How much tax was in play? What were the circumstances and who won? I got stuck into

Agricultural Relief – Tips and Traps

Golf course with bunkers

Last week we looked at the basics of agricultural relief. This week we are going to look at some tips and traps when it comes to agricultural relief. The main ones are Meeting the farmer test Preparing to meet the test Deductions for liabilities Trees Clawback Better than Business Property Relief Meeting the farmer test

Agricultural Relief – The Basics

Farmland

In the last month, I had 3 meetings where the inheritance of farmland was the main concern. The parcels of land were more than 80 acres in all cases. Assuming a value of between €10,000 and €15,000 an acre the figures are high. So, Agricultural relief is vital for you to check out. This week

Gifting Money to Children – Pay for the Wedding

Teddy holding money

Last week we spoke about Ludmila in our office and how she’s the lady to get your tax return right first time. This week we will look at gifting money to children. What to do and what not to do. The idea for this came from a client query whose son is getting married soon.