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The Bank of Ireland Enterprise Town business, sport and community expo takes place in Newcastle West this Friday and Saturday. This is an exciting event for the town, aimed at showcasing everything Newcastle West and the surrounding area has to offer. Along with a huge range of businesses from the area that will be present, […]
Tag Archivesfamily business
Budget 2017 increases to gift and inheritance tax thresholds
Tax on gifts and inheritances are both collected through capital acquisitions tax. The rate is currently charged at 33% but the thresholds have increased, meaning that more of the gift is taken tax free. This change takes some gifts and inheritances out of the tax net and reduces the liability on those that exceed the […]
71% of farmers plan to keep it in the family
The Irish Examiner has run a series of interesting opinion polls this week to coincide with the Ploughing Championships. This morning they focus on farm succession. We wrote about it last year and spoke to the Examiner about the interesting results. Rossa McMahon said planning was essential for a clear succession strategy, but many farmers […]
5 tips for hiring employees
In recent years many people left employment for one reason or another and set up a business of their own. With some parts of the economy recovering, some of these businesses are now growing. Moving from lone trader to employer is a positive step and also a significant legal one, as a raft of employment […]
Lessons from Teagasc’s farm succession clinic
As solicitors with broad experience advising farming families we were delighted to be invited by Teagasc to attend their Transferring the Family Farm Clinic for the Limerick/Kerry region which took place today (13 October 2015) in the Devon Inn Hotel, Templeglantine. John Molyneaux and Rossa McMahon met many farming families for one-on-one consultations in a […]
Family farm transfers and the phasing out of consanguinity relief
An important relief from stamp duty frequently availed of in transferring family farms is in the process of being phased out. Anyone considering a farm transfer should be aware of the rules and consider whether they affect future plans. Known as consanguinity relief, the rule halves the rate of stamp duty (from 2% to 1% […]
Succession planning still an issue for Irish family businesses
PwC have published an interesting survey on family businesses which has a global scope but also has significant conclusions in relation to Irish businesses. The survey covers a range of issues including growth, going digital and the increase in professional management of family businesses. A striking finding, however, is that only 1 in 10 of […]
