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There are many options to consider when it is time to think about passing wealth onto your next generation and dealing with gift and inheritance tax in Ireland.
Your priorities can vary from utilising tax efficiency to identifying applicable exemptions and may even include addressing foreign tax that your estate may be exposed to. You need an adviser who can look after everything to ensure your family get the most from their inheritance.
At RSM Ireland we provide tailored advice regarding capital acquisitions tax, which consists of, gift tax, discretionary trust tax and inheritance tax in Ireland.
It is our first concern to create tax efficient plans, minimising the taxes arising from an asset transfer by identifying applicable exemptions or tax reliefs that you may be eligible for.
If required, we will also assist you in identifying and addressing any foreign tax that needs examination and provide assistance with devising a tax-efficient will or trust structure.
We will assist you in all matters relevant to Irish capital acquisitions tax (CAT) with particular emphasis on;
Business Relief
We can review your business to identify if it qualifies for business relief, and if it does we can assist you in reducing the taxable value of a gifted or inherited, qualified business asset by up to 90%.
Retirement Relief
Where you are over the age of 55 and are considering transferring some or all of your business assets to a third party, we can assist you in availing of CGT retirement relief for qualifying assets.
Trust Structures
We can assist you with the creation of Irish trust structures and can assist with the restructuring or termination of existing trust structures. Through our RSM Global network we can also direct you to tax advisors in our member firms who can provide you with expert tax advice regarding offshore structures.
