Succession Planning: How the transfer of assets works

With the gifting of the assets of a business or shares in a family company, the transferor is liable to capital gains tax (CGT), based on the market value of the assets when transferred.

28th April, 2012
Succession Planning: How the transfer of assets works
Michael O'Leary, taxation director with leading business advisory group BDO.

With the gifting of the assets of a business or shares in a family company, the transferor is liable to capital gains tax (CGT), based on the market value of the assets at the date of transfer.

"As it stands, our tax legislation provides a relief from CGT, commonly referred to as 'retirement relief', available where certain conditions are satisfied, including that the individual must be 55 years old and have owned the assets/shares for...

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