CPDStore Ireland

For family businesses, the matter of succession planning will eventually rear its head and can be one of the more challenging issues for them with the interests of a number of parties – including the retiring owners, their family and the business itself – to consider. This course features a discussion of the main tax and commercial issues that should be considered including an overview of the key tax reliefs that may be applicable, including some recent changes that may impact significantly on those considering such transactions in the near term. 

It considers both a transfer of the business to the next generation and a third-party sale, and will look at how the proceeds of any sale might be managed tax-efficiently. The broader issue of how business assets, proceeds of sale and investment and other assets might be transferred to the next generation in a manner that is both tax-efficient and takes account of the interests of all parties will also be considered. 

In this course Michael O’Scathaill covers the following topics:

• The major commercial issues that should be considered in the context of a transfer of the business to the next generation or its sale.
• An overview of key tax reliefs in this area including Retirement Relief, Entrepreneur Relief, Business Assets Relief and Agricultural Relief, to include recent developments and legislative changes to these reliefs.
• A look at some more complex structures that can be put in place to facilitate a tax-efficient disposal of a business, including the use of personal holding companies and equity structures that facilitate the introduction of family members as shareholders at an earlier stage.
• The use of family partnership structures and family holding companies to hold investment assets.
• Structures and strategies for minimising tax on inheritance or lifetime transfers of assets.