We support new and expanding businesses by advising on the best structure for the business, ensuring the business is charging, deducting and returning VAT correctly, and getting the payroll obligations right from the off. We also advise on the tax implications of various types of business finance, tax reliefs on start-up, research and development tax credits, and the knowledge development box regime. We also have years of experience in supporting clients through Revenue audits, qualifying disclosures and settlements.
As a business expands, often new shareholders are introduced and existing shareholders exit. A variety of tax, financing and legal implications arise and we liaise with other advisers to ensure the most-tax efficient and practical outcome. We also advise on the incorporation of a sole trade or partnership and the creation of group structures, including the use of different share classes. And most importantly, we co-ordinate with other advisers to get the restructurings fully completed.
Whether an international business client is ‘dipping their toe’ into Irish business by sending one/two employees to generate local business or setting up an Irish company from the off, we ensure our international clients meet their Irish tax obligations. Issues such as the creation of a permanent establishment/branch, securing a VAT registration, assessing the tax residency of the business in Ireland or its Irish-based employees, double tax relief, and payroll/social security obligations are all assessed and determined.
We provide advice on the Irish tax obligations arising on the same issues for Irish clients expanding into foreign locations.
On all advisory projects for both inward and outward expansion, we liaise closely with our clients’ international tax advisers.
We advise on the Irish capital gains tax and stamp duty implications of buying and selling private/business/farm assets, whether personally, or through an investment vehicle such as a company, family partnership or trust. All potential CGT and stamp duty reliefs are assessed to see if they may apply, and consideration is also given to a potential exit/sale at the time of the initial investment. We advise on the ongoing tax obligations of holding and generating income from the asset, as well as ensuring Irish personal income tax, trustee tax, CGT and stamp duty returns are filed and paid on time.
We also regularly work with international tax advisers to ensure that our Irish client’s tax obligations in other countries are kept fully up-to-date.
Many clients come to us looking to assess the potential exposure of their beneficiaries to capital acquisitions tax (aka inheritance tax) on their death. Once the initial assessment is carried out, the advice required often expands to consider how the estate assets will be divided and possible gifts during their lifetime. We advise on whether family partnerships and trusts may be useful in the specific circumstances of the clients and their family, e.g. for asset protection, to ensure beneficiaries do not inherit before they can manage the inheritance, to claim CAT tax reliefs, etc. When clients are ready to put their wishes into legal format, e.g. will, enduring power of attorney, trust deeds, we liaise the lawyers to ensure the documentation reflects their wishes. Once gifts and inheritances have been received, we ensure that the relevant CAT returns are filed and paid on time.
As well as advising on financial transactions and long-term planning, we act as tax agents for our clients to prepare and file returns of income taxes, partnerships, trustee taxes, CGT, CAT and stamp duty. We also have years of experience in supporting clients through Revenue audits, qualifying disclosures and settlements.
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