Capital Gains Tax
Irish Capital Gains Tax is paid on the disposal of assets by gift or sale, and can arise on a wide range of transactions from appointments out of trusts to corporate re-organisations. The rate of CGT and the due dates for paying tax have changed frequently in recent years.
HLB Ryan has extensive experience in dealing with CGT issues. We can assist with the CGT implications of estate transactions, trusts, break-up of settlements and re-organisations, and advise on the purchase and disposal of investment and business assets. HLB Ryan can advise on when CGT payments fall due, calculate the CGT that should be paid, and consider whether there is scope to reduce or defer CGT by claiming reliefs.
In particular, our team advises on how to best maximise the allowances, reliefs and exemptions available - and therefore minimise any liability arising. Some of these reliefs may apply:
• Annual small gains exemption
• Relief for capital losses
• Negligible value claim
• Principal private residence relief
• Retirement relief
• Transfer of a site to a child
We have extensive experience in company re-organisations having worked on a myriad of projects ranging from assisting on the migration of tax residence of large multinational companies to the separation and protection of assets in small indigenous Irish businesses.