Tax Planning is crucial to every business. McEvoy Craig can bring our tax knowledge and experience to you, minimising your liability and helping you protect your assets.
Personal Tax Compliance and Planning
We work hard for our clients and our number one priority when preparing your taxes is to ensure you never pay more than you have to. We check all your allowable deductible expenses and credits ensuring you are claiming everything available to you.
Inheritance Planning & Retirement Planning
We are specialised in the area of Capital Acquisition Tax – CAT. This tax covers both Inheritances and Gifts. The rules for both taxes are broadly similar and for simplicity we will refer to inheritance tax here. The legislation re CAT is complex, however the rewards for proper planning can be immense. Without proper planning the tax bill can be such that it is necessary for the legatee to sell the asset to meet the tax liability. Thus proper CAT planning is imperative to minimise tax liability and ensure assets pass to the next generation.
Thresholds for children receiving inheritances have reduced from €541k to €310k and the tax rate has increased from 20% to 33%, thus liabilities have increased significantly. The good news is that there are significant reliefs available to farmers and business people.
Because of our expertise we can ensure that you avail of these crucial reliefs, our costs are competitive and the rewards for you substantial.
Corporate structures provide many opportunities in the area of tax planning because of lower tax rates and pension planning opportunities. We can identify these opportunities and help unlock and optimize the benefits for you and your company.