With a EOT this is a very tax efficient option for tax planning when you plan to retire or sell your business.
Through this option, it will give people who own a business typically shareholders a route to transfer their shares without incurring Capital Gains Tax to a qualifying Trust which Brendan Kelly can support with the setting up of. Then any profits from the increase in share value will not be met by the shareholder which are held in the trust.
It is also good for passing business down to family members and the costs need to be considered. Currently, many business owners when they are looking at their options to sell their business, need to look at the Capital Gains Tax they will pay on the increased value of the shares from when they set the business up.
A report needs to be written to ensure the transaction to transfer the shares is compliant and that clearance must be given from HMRC for the setup of the trust which we will take care of for you also. There are many business implications and personal considerations which need to be taken into consideration before you proceed with this.
Please email us at tax@callan-group.com for a review or your position and the savings which can be made
