Succession Planning

From a taxation perspective, there has never been a better time to introduce the next generation to your business. Current asset values have deflated, as the tax cost is also low there is the potential for future value increases to pass to the next generation with little or no tax cost.  Generous reliefs are available such as Retirement Relief and Business Property Relief which allow for businesses to pass to the next generation of family members without a significant charge to tax.  The generous tax reliefs however, are not guaranteed to remain as they are subject to the Budget 2012 announcement in December.

At RSM Farrell Grant Sparks we understand the hard work that has gone into accumulating wealth. In these recessionary times, we also understand that people must be more focused in protecting their wealth.  As an entrepreneurial firm, we understand the issues facing owner managed businesses and have adapted our services with you in mind. With the global reach through our membership of the RSM International network, we can seamlessly facilitate any succession of international assets.

Dedicated team

Our dedicated team advise on all aspects of succession planning. Our key focus is on introducing the next generation with little or no cost but our approach will also be:

• Practical – Our tax advice will reflect your long term business and personal objectives by providing a tailor made solution that is consistent with and achieves these objectives. Protections against changes to these objectives will also be reflected.
• Partner Led approach – Ensuring that you obtain the wealth of experience of our senior team.
• Wide Ranging – Our team has knowledge and experience in all aspects of succession planning and will create a tax-efficient succession plan suited to your specific requirements.
• Delivery focused – We work with our clients to ensure delivery of our advice to agreed timelines and fees.

Contact a member of our tax team: Rory Meehan, Mary Nyhan or Declan O’Hanlon in our Dublin office or John Lyons in our Longford office, to find out more about how we can help with the succession of your business or asset portfolio.

Our services

Read more about our Taxation Services