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Purchase of a company - tax liability

  • 13-02-2012 6:49pm
    #1
    Pandoras Twist
    Registered Users, Registered Users 2 Posts: 1,375 ✭✭✭


    If a partnership bought a small limited company, what taxes would they be liable to?

    All I can think of is stamp duty on the shares at 1%.

    Would there be any additional taxes if it was a company buying another company?


Comments

  • #2
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    HYPOTHETICAL ANSWERS ONLY

    You'd have stamp duty on shares, CGT on disposal of original company shares which could be rolled over if certain conditions are fulfilled

    The base cost may be adjusted if purchase consists of monies and shares

    VAT Issues may not arise on shares but may if going concern- Business Tranfser relief may apply

    If the company being disposed was a close company- close company considerations

    Retirement relief may apply for disponer

    There are a myriad of tax considerations in ANY transaction and the purchaser and seller need to be aware of both as either can be the assessable person


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