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Warren & Partners are a boutique Irish tax and business advisory firm based in Ballsbridge, Dublin. Our experienced-team of tax advisors will create unique tax solutions for your specific business needs.
Some related posts from our experts.
As we start another year, we wanted to highlight some of the interesting tax consultancy projects we were involved with prior to the end of 2019.
Some recent posts from our experts.
Ireland’s exchequer tax receipts for 2023 are already beating expectations. While multinational corporate tax receipts have been a big contributor, the domestic economy continues to play a pivotal role. This is evident from the busy start to 2023 that Warren & Partners are seeing within our client base of Irish private companies, entrepreneurs, partnerships, and private clients.
In the first of our series on inheritance and gift planning we outline below one of the principal reliefs available to reduce the tax bill.
The CGT reliefs commonly known as Entrepreneur Relief (“ER”) (contained in s.597AA TCA) and Retirement Relief (“RR”) (contained in both s.598 TCA where the disposal is to a third party), are well known and very valuable reliefs that are available to SME owners the length and breadth of Ireland. However, what is not well known or well understood, is the interaction between the two reliefs and how they apply simultaneously but more importantly how the reliefs can be maximised. We intend to deal with the interaction between RR on disposals to third parties under s.598 TCA and RR on disposals to children under s.599 TCA in a future article.
The decision to pass on a business to the next generation can be a big step for any family. Whilst commercial and family dynamics are key concerns, the matter of taxation should be high up on the agenda to ensure that tax costs for the outgoing shareholders and the incoming family members are minimised.Therefore, Business Relief is an extremely important relief to consider if much of your family’s accumulated wealth is tied up in a business. We have outlined below the key benefits and conditions of Business Asset Relief.
Taxpayers Take Note: Important Changes in New Code of Practice for Revenue Compliance Interventions
According to the CSO, the year to 30 April 2020 saw the highest number of Irish ex pats (28,900) returning to Ireland since 2007. It is vitally important that the ex pat’s financial affairs are managed in a way that the move to Ireland is tax efficient, particularly if they are currently living in a tax jurisdiction with low personal income tax and capital gains tax rates. There are many relevant tax matters which should be considered prior to moving back to Ireland. Our experienced tax team can provide important assistance in this regard.