We will liaise with your legal advisors to ensure the best succession plan for you is put in place and that the following reliefs / exemptions are considered:
- Business Asset Relief on transfer of business (reduce taxable value by up to 90%)
- Agricultural Relief on transfer of agricultural land / property (reduce taxable value by up to 90%)
- Certain Dwelling Exemption – tax-free transfer of main family home in certain circumstances
- Double Taxation Relief – consider non-Irish taxes particularly relating to foreign property.
- Credit for capital gains tax paid on certain transfers against gift tax arising on the same event.
- Maximising tax-free thresholds for the wider family.
- Net of tax transfers
- Small gift exemption.
- Discretionary trust
- Life interests or limited interests
- Inheritances taken by parents
- Provision of insurance policies to pay tax arising on gifts / inheritances (free from tax where certain conditions met).