Succession Planning

The statistics tell us that a large percentage of family businesses do not survive the second generation.  It is therefore vital for all family businesses to plan for the future at the earliest opportunity.  Tax forms an important part of most succession plans and at Cahill Taxation Services our solutions are aimed at maximising reliefs, minimising taxes and providing the retiring parent with tax free lump sums and income streams in retirement.  Our services in this area include:

• Advice in relation to tax implications of transferring businesses to the next generation.

• Advice in relation to tax implications of selling businesses to include pre-sale planning.

• Maximising the benefits of pension contributions, retirement relief and other reliefs to provide lump sums in a tax efficient manner for retiring directors and shareholders.

• Advising children on the tax issues that need to be addressed on their succession of the business.

• Providing hands on advice on all tax aspects in the immediate period following implementation of succession plan.