Protecting family wealth is a priority for most people and effective tax planning has a large part to play in this process. Neglect in this area of estate planning can cause severe hardship and expense on families and next of kin. We encourage our clients to identify their wishes and once identified we will build a tax efficient plan to implement the transfer and avoid problems in the future.
It is important that the succession of your business is planned in order to limit exposure to capital taxes. Whether your goal is to keep your business in the family, sell it to management or sell it to a third party, our experienced tax team can help you develop a clear plan for the future in all areas of the business transfer including minimising capital taxes.
Every enterprise, personal and corporate, including not-for-profits, has taxation considerations. As each year passes, the authorities improve their methods and refine their approach. It is critical that the tax affairs of all such entities in such circumstances are fully understood and properly addressed. By its nature, tax legislation changes year to year and the interpretation of that legislation also evolves. This is the challenge that faces all taxpayers. It is very important that the challenge is balanced by an approach based on sound principles. Our approach falls into two areas – compliance and planning.
Our Tax Services include the following:
- Income Tax
- Corporation Tax
- Relevant Contractors
- Capital Acquisitions Tax
- Capital Gains Tax
Unlike many other accounting firms, we see the production of the accounts not as an end in itself. For us, it is the start of an interpretation that allows us to highlight the story within the figures. We will compare your outcome with comparable businesses. This story and comparison will allow you to understand and plan your business/tax affairs in a timely and structured way. By highlighting the key performance indicators for your business, we will arm you to quickly respond to the issues around your business.
For some of our clients, annual accounts are all that is required. For many others, more frequent accounts are needed. We can deliver such accounts quickly and in a form that best suits individual needs at the time. Such accounts, prepared on site or remotely, are an invaluable tool to management.
We specialize in the following:
- Preparation of Company Accounts
- Preparation of Sole Trader Accounts
FAMILY SUCCESSION LAW
Planning for Family Succession covers every aspect of succession planning, including family dynamics, management transition, non-family involvement, corporate governance, personal wealth management, contingency planning, tax issues, the role of advisors, and international best practice.
George Gannon & Co Specialize in the following fields of Family Succession Law:
- Gift & Inheritance
- The Family Home