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Question about becoming a company owner/shareholder

  • 27-07-2019 7:05pm
    #1
    Kmagic
    Registered Users, Registered Users 2 Posts: 90 ✭✭


    I dont know if these are the right questions but here it goes.

    A friend of mine is being taken on as an owner/director of a limited company as the current two owners are looking to retire in 2 years and 5 years respectively. From what he said they are talking about generating shares for him him and then over the coming years restructuring the company so it's his.

    They are long time family friends so he does not feel like they are out to "do him".

    He is worried about capital gains tax, other taxes and fees. He also doesn't even know what the right questions are to ask to make sure he knows what he is getting in to.

    What kind of financial advisor covers this? Is there any online resources he can look at? Any government agencies he can get advice from?

    As I say, we dont know what we dont know so any advice is appreciated.


Comments

  • #2
    duploelabs
    Registered Users, Registered Users 2 Posts: 11,986 ✭✭✭✭duploelabs


    Kmagic wrote: »
    I dont know if these are the right questions but here it goes.

    A friend of mine is being taken on as an owner/director of a limited company as the current two owners are looking to retire in 2 years and 5 years respectively. From what he said they are talking about generating shares for him him and then over the coming years restructuring the company so it's his.

    They are long time family friends so he does not feel like they are out to "do him".

    He is worried about capital gains tax, other taxes and fees. He also doesn't even know what the right questions are to ask to make sure he knows what he is getting in to.

    What kind of financial advisor covers this? Is there any online resources he can look at? Any government agencies he can get advice from?

    As I say, we dont know what we dont know so any advice is appreciated.

    Engage a proper accountant, they'll be able to advise on all of this


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