Succession and Wealth Protection Planning are vital to ensure that wealth is maintained for the next generation and, where possible, that value accumulates in the hands of the next generation from the earliest possible opportunity. With Capital Acquisitions Tax and Capital Gains Tax rates of 30%, effective estate planning and the use of available tax reliefs can often times minimise these taxes to 3%.
Deloitte has a team of expert advisers who practice specifically in the area of wealth protection and estate planning. Our aim is to ensure that clients can transfer their assets to the next generation in the most tax efficient manner while at the same time allowing them to retain control over these assets should they so wish.
Planning alternatives we would consider and examine in structuring your affairs include:
- Review of wills from a tax perspective
- Establishment of family partnerships for asset holding purposes
- The use of trusts (both domestic and foreign)
- Use of corporate structures for future acquisition of property involving the next generation
- Examining and restructuring shareholdings to achieve commercial and tax objectives of the shareholders
- Reorganising companies and groups of companies to facilitate a transfer of ownership or segregation of different assets or to maximise reliefs for capital gains tax and capital acquisitions tax purposes
- International tax planning, using the expertise of the international Deloitte firm to ensure the transfer or acquisition of foreign assets is achieved in a tax efficient manner for all parties to the transaction
- Facilitating meetings among family members/shareholders to create a forum for open discussion on how family interests should be passed to the next generation
For further information please contact:
Niall Glynn, Tax Partner
T +353 1 417 2206