If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Tax/Accountancy Problem

eyfm5 · 2011-06-30 11:57:02

I am having a bit of trouble with a tax/accountancy issue and would appreciate some help. I plan on leaving my company to my son, my wife and I own 100% of the shares (1 share each) but we want to take money out of the company before we give it to my son. We want to avoid paying as much tax as we can. I am assuming that my…

30-06-2011 11:57am

#1

eyfm5

Registered Users, Registered Users 2 Posts: 31 ✭

Join Date: January 2011

Posts: 22

I am having a bit of trouble with a tax/accountancy issue and would appreciate some help.

I plan on leaving my company to my son, my wife and I own 100% of the shares (1 share each) but we want to take money out of the company before we give it to my son. We want to avoid paying as much tax as we can. I am assuming that my son wont pay any CAT as he still has his full group A threshold but my main concern would be getting the money out of the company without paying any tax.

any ideas?

0

Comments

#2 30-06-2011 12:40pm

dbran

Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭

Join Date: October 2004

Posts: 2041

Yes

Seek professional advise.

Kind Regards

dbran

0

This discussion has been closed.