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Taxation Exit Strategy

The Client has Left the Building

Hopefully you’ll have had a successful career, enjoyed your job, built up your business and accumulated cash and investments that now allow you enjoy your retirement. Or maybe you simply sold your business and you’re moving on to the next venture. What ever the planned outcome one goal is common, you will always want to pay the least amount of taxation possible.

Don’t wait until your about to sell or retire, make sure you have a tax efficient extraction plan now and reassess this plan on a yearly basis.

In Ireland there are still ! significant tax reliefs available that allow extraction of wealth from your business tax free. These include:

  • Claiming Business Relief when Passing assets onto your children
  • Claiming Retirement Relief when extracting cash
  • Doing the above simultaneously
  • Splitting business’s into a number of companies and selling liquidating the cash company
  • Living abroad in tax efficient locations prior to liquidating shares in your business.
  • Contributing to your pension, provided you know where the money is going and the pension provider is capable of making a market return on it.

The goal – How do you get money out of your business can be achieved in a number of manners.

Caution should be given to ensure the extraction method doesn’t fall foul of Section 817