Succession Planning

We assist and advise the business owner when making critical decisions about the future ownership and direction of the business. Making the right decision at the right time is critical.

At Cotter Tax Consulting we recognise that it is important that succession planning is discussed among family members at an early stage. There are important tax reliefs that can be availed of where the owner of the business is transferring the business or shares in the company to family members. There are several conditions to be satisfied in order to qualify for these reliefs and we can help the owner ensure that these conditions are met so that the relief can be availed of.

Sometimes the owner may wish to sell the business or his/her shares in the company to a third party or he/she may wish to sell his/her shares back to the company. It is important to minimise tax when selling a business and careful planning is needed in advance of any disposal. Cotter Tax Consulting will provide advice in all of these situations.

We advise on:

  • Retirement Relief on the disposal of part or all of a business.
  • Entrepreneurs Relief on gains arising on disposal of a qualifying business.
  • Share buy back by a company and the conditions necessary for the shareholder to qualify for capital gains tax treatment on the gain.
  • Reliefs on transfer of a business to a company.
  • Corporate reconstructions.
  • Partition of a family company.
  • Setting up group structures to minimise tax.
  • Tax advice to management team on the purchase of shares by way of management buy-out.
  • Taxes arising on transfer of assets to children and how to reduce this tax.
  • Taxes arising on the sale of a business and how to minimise this tax.
  • Business Assets Relief on acquisition of qualifying Business Assets.
  • Agricultural Relief for a beneficiary on the acquisition of agricultural assets.
  • Timing of transactions and retention of shareholdings by the founder shareholders.
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