Capital Acquisitions Tax
CAT - Gift & Inheritance Tax
Economic success and growth have resulted in increasing numbers of business people and entrepreneurs enjoying the financial rewards of their hard work. At Quintas based in Cork, Ireland our team of experienced Tax Consultants understand how important it is to preserve and enhance this wealth to help them achieve these objectives in a tax efficient manner.
Tax is an important issue in succession planning and careful thought and consideration in advance of retirement can significantly reduce your tax liabilities.
We will identify and help maximise the relevant tax reliefs available and assist you through a smooth and timely transaction.
When assessing CAT, there are numerous reliefs and exemptions which may apply to beneficiaries who might otherwise be subject to large CAT bills.
We can be consulted for accurate information and assessment of CAT on any past or proposed gift/inheritance, including advice on steps which can be taken to minimise CAT and information on your filing and payment obligations
When a beneficiary receives any benefit from a trust, there may be possible CAT and other tax liabilities arising. If you receive any benefit from a trust, we can advise you of any tax which is payable.
If you are preparing your will, we can inform you and your intended beneficiaries of any CAT liabilities that will arise as a result of each proposed bequest so that you can take account of these costs in drafting your final will document.
Equally, we can advise anyone who is in line to receive an inheritance of the CAT liabilities which will arise and steps which can be taken to minimize them.
There are certain transfers which are exempt from CAT.
We can advise on whether a transfer is likely to be exempt or not and the action which can be taken to achieve exemption status, where relevant.