Business Sales

​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