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SECURING YOUR BUSINESS AND FAMILY'S FUTURE
Succession Planning
You've worked for many years building asset portfolio, you want to make sure it's handed over as smoothly as possible.
Family Succession
Trusts
Estate Planning
Tax Efficient Business Exits
Retirement Relief for Business Owners
Retirement Relief is one of the most valuable tax reliefs in Ireland, potentially eliminating Capital Gains Tax entirely on the disposal of your business. The relief is available from age 55 and has different limits depending on whether you're transferring to family or outside parties. Lifetime limits of €750,000 (non-family) or €3 million (family) apply. We help you plan disposals to maximise this relief, including partial retirements and phased transfers.
Family Business Succession
Passing your business to the next generation requires careful planning to avoid unexpected tax bills that could threaten the business's viability. Beyond Retirement Relief, we consider Business Relief for CAT purposes (reducing taxable values by 90%), employment conditions, and clawback provisions. Our goal is to ensure a smooth transition that keeps the business in family hands.
Entrepreneur Relief
Entrepreneur Relief provides a reduced CGT rate of 10% (versus the standard 33%) on qualifying business disposals, up to a lifetime limit of €1 million in chargeable gains. The relief has specific requirements including ownership period, holding percentage, and working director status. We ensure you meet all conditions and combine Entrepreneur Relief with Retirement Relief where possible for optimal outcomes.
Management Buyout Planning
If family succession isn't the right option, a management buyout (MBO) can provide continuity for employees and customers while delivering value to you. MBOs require careful structuring including valuation, financing arrangements, and tax planning for both sellers and buyers. We work with all parties to structure transactions that achieve everyone's objectives.
Business Valuation Considerations
Accurate business valuation is essential for succession planning, whether for tax purposes, pricing negotiations, or EMI scheme implementation. We help you understand how Revenue approaches valuations and factors that might increase or decrease value. This understanding helps in timing disposals and structuring ownership to optimise outcomes.
Governance & Training
Successful succession isn't just about tax – it requires preparing the next generation to lead. We advise on governance structures, bringing family members into the business, and training arrangements. Sometimes the best succession plan involves preparing your children NOT to take over, allowing them to pursue their own paths while you achieve a clean exit.
Retirement planning is aligned with tax outcomes
Avoidable tax risks have been eliminated
The family's financial future is protected
Ownership is structured for an efficient transfer
The next generation can take over with confidence
Business Relief and other reliefs are secured
The Outcome
As a result, the client now has a robust succession framework in place:
Case Study
Planning for the Next Chapter
Our Approach
TaxKey worked closely with the client and their other professional advisers to design a clear, phased succession plan. Our collaborative approach included:
Reviewed the existing group structure and ownership arrangements
Identified the most appropriate timing for the transfer of shares
Ensured that valuable reliefs such as Business Relief could be secured and retained
Balanced commercial reality with long-term family objectives
Provided certainty around both control and cash flow for the client
The plan balanced commercial reality with long-term family objectives, giving the client certainty around both control and cash flow.
The Situation
After decades of building a successful business, our client knew it was time to plan for the next chapter. They wanted to step back gradually, protect their family's financial future and ensure the business could transition smoothly to the next generation without unnecessary disruption or tax leakage.
Their key concerns were clear:
How to transfer ownership
efficiently
They were also conscious that leaving matters too late could significantly limit the reliefs available.
How to fund retirement without
weakening the business
How to avoid exposing their children to unexpected tax liabilities
Why Choose Our Service
We provide comprehensive solutions tailored to your specific needs
Tax Minimisation
Utilise Retirement Relief, Business Relief, and Entrepreneur Relief to minimise exit taxes.
Business Continuity
Ensure your business thrives after transition with properly trained successors.
Family Harmony
Clear plans and fair structures prevent family disputes over business ownership.
Retirement Security
Extract value from your life's work to fund a comfortable retirement.
Employee Retention
Provide certainty for key employees about the business's future direction.
Legacy Protection
Preserve the business culture and values you've built over decades.
