So, yes there was a sole trader to limited company last week. We introduced you to Prince Murphy and some of the main taxes when making the change. These included Income Tax and Corporation Tax. It was very insightful to see the tax savings over many years. We also touched on the salary that Prince
This week I’ll look at some tax tips for Inheritance Tax. Over the last two weeks, we introduced you to the Toners, Timmy the dad, and his wife Fidelma. They have two sons, Gary and Shane who are in college. To recap, Fidelma works part-time as she loves the gym and gets a great buzz
We’ll look at some examples of how tax efficiency saves money. Plus, introduce you to the main stars of this blog, the Toners. By claiming everything they can and making a few changes the Toners will save thousands in a tax year. It could be the difference between a holiday in Portugal or a day
To give this blog a more complete title we should call it, Gifting money to children – Don’t do this. We will look at a recent case on this. The beauty of the case is that it gives a good idea of the basics of CAT. Plus, a lesson in what not to do. CAT
In this blog, we will see how Separation and Divorce is a taxing issue for many people. They only find this out after the fact. We have seen this to be problematic in a few cases where people came to us for help getting things right. It’s not an area you would expect a person
We will look at the tax considerations of transferring your business to a company. The main points we will cover are Goodwill. Is there any? Sell your business for shares Sell your business for cash Potential Tax reliefs Other considerations Summary Goodwill. Is there any? Goodwill. You sell your business to a third party and
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
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.
It’s difficult for me to say this but well done to Waterford last Saturday evening in Croke Park. It was one of those games where Kilkenny would have been happy at half-time. Waterford supporters would have had a sense of “oh no here we go again”. Waterford hurled in the second half like their lives
Tax planning for succession: what it means for your family businesses After a long career building up or running a family business, there will come a time when, as the owner, you want to consider retirement. This succession of the business to the next generation – or even the outright sale of the company –
