JC | Taxation

Capital Gains Tax Planning

Capital Gains Tax is payable on gains accruing from the disposal of assets: transfer of ownership by sale, gift, exchange or otherwise. Our tax department offers advice in each area. 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
Principal private residence relief•Retirement relief
Transfer of a site to a child

In the current market, Capital Gains Tax planning may be of particular interest. Some of our clients may wish to dispose of assets with falling values to crystallise capital losses. We will calculate your Capital Gains Tax liability, advise on ways of reducing it, and identify when it needs to be paid.

Jane Cathcart & Associates strive to make your affairs less taxing.

We can assist you in preparing your tax returns, advise on PAYE and PRSI, provide tax planning and secretarial services, as well as dealing with tax investigations and VAT planning.

Book a consultation with us today to make your business affairs less taxing and learn more on how to cope with and avoid the many pitfalls of taxation.

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Gift and Inheritance Tax Planning

Capital Acquisitions Tax is charged on the receipt of assets by way of gift, inheritance or otherwise received at less than market value. Again, the current downturn in the market may present an opportunity to transfer wealth to the next generation in a more tax-efficient manner.

Where assets are transferred at market value, any future increase in their value will accrue to the transferor’s children or beneficiaries. We work closely with clients wishing to pass on assets to their successors in the most tax-efficient manner possible. This begins with reviewing all exemptions and reliefs for each individual client. Some of the more common exemptions/reliefs include:

Small gift exemption
Exemption for spouses
Agricultural relief
Business property relief
Credit for Capital Gains Tax paid against Capital Acquisitions Tax due
Exemption of certain dwellings

Revenue Audits

Jane Cathcart & Associates has significant experience in representing clients, both corporate and personal, in Revenue audits and investigations. The importance of planning for Revenue audits cannot be overstated, due to the low monetary threshold after which publication of default can arise.

This is currently set at €30,000. Importantly, this €30,000 is the aggregate of the tax due, statutory interest and penalties. Therefore, although the tax not previously paid may have been less than the €30,000 threshold figure, the interest c harged and the penalty imposed are aggregated with the tax liability for the purposes of the €30,000 limit.

Therefore, the taxpayer may find themselves being published in Iris Oifigiúil and in the national press. It is possible to avoid publication arising from tax defaults by voluntarily furnishing details of the tax default to Revenue, together with a payment for outstanding taxes, interest and penalties. This approach can also bring about a large reduction in penalties to be applied.

Customer Care and Service

As an Accountants & Business Advisors in Dublin, our clients range in size and sophistication, as do our accountancy services.

Responding Quickly

We ensure that our clients receive prompt attention and we give a commitment to all our clients that all aspects of the work we do is completed quickly and efficiently

Client Relationship

Keeping in regular contact with our clients greatly enhances a better understanding of our client’s business and therefore helps them to receive better advice and value for money.

Competitive fees

We make it an important part of our overall service to ensure that our clients understand the basis of how our fees are calculated.

Other Services

In the early stages of business, we can help you prepare professional finance proposals and advise and assist in negotiations with banks: an increasingly specialised area in the current climate.

Company Acquisitions

We advise on company acquisitions and given the current market, it is now more important than ever to ensure that you are buying a sound, profitable enterprise and not a company that will act as a black hole on your resources.

Due Diligence Reviews

Due diligence falls under this remit. At Jane Cathcart & Associates, our staff are fully experienced and qualified to carry out due diligence reviews which we regard as best practice for companies. This can be a legal obligation, but it is more commonly a voluntary activity that arms you with independent analysis with which to make sound business decisions on acquisitions and disposals – both areas of expertise at Jane Cathcart & Associates.

Our corporate finance team and are fully qualified. We can also prepare an independent accountant’s report on business viability for examinership proposals – another important tool in the current climate.

At Jane Cathcart & Associates, we have the experience and in-house expertise to cater for all your financial requirements.

Taxation