Typical Scenario :
Typical Scenario Business Owner near retirement age
Has children keen to take over business
But has insufficient pension provision
Assets have declined in value T: 01 429 3600
E: tax@newmarket.ie
W: www.newmarketpartnership.ie
Typical Scenario :
Typical Scenario Needs an income stream in retirement
Feels he/she can’t afford to retire
And feels he/she can’t exit at this point due to challenging climate for business and need for experience
Tax rates are rising so it will be harder to put nest egg aside. T: 01 429 3600
E: tax@newmarket.ie
W: www.newmarketpartnership.ie
Creating a WIN-WIN-WIN :
Creating a WIN-WIN-WIN Business Owner retires with greater security and accelerated payment but can still have an input
New Generation gain control at relatively low cost
Company saves substantially in cost of retirement provision....
WITHOUT IMPACTING CASHFLOW T: 01 429 3600
E: tax@newmarket.ie
W: www.newmarketpartnership.ie
Summary :
Summary Tax legislation allows for generous relief for retirees
Flexible structures may be designed to avail of reliefs and enable retiree, company and next generation to meet objectives
Important to consider legal & commercial aspect as well as tax & finance T: 01 429 3600
E: tax@newmarket.ie
W: www.newmarketpartnership.ie
CONCLUSION :
CONCLUSION But how long will reliefs be available? Commission for Taxation, Budget 2011......SAVINGS OF THIS LEVEL WILL BE REDUCED IN THE FUTURE!!
CALL FOR FREE CONSULTATION T: 01 429 3600
E: tax@newmarket.ie
W: www.newmarketpartnership.ie