Where taxation is concerned O’KellySutton recognise the importance of considering the implications of all taxes on your circumstances and not just a particular tax you may want to review. Taxes and taxation are addressed as follow;
1. Tax Planning
- Annual Tax Reviews
Every corporate and individual should undertake an annual tax review in order that taxes savings are maximised. This could be under several tax heads which typically includes income tax, corporation tax, capital gains tax, capital acqisitions tax, and stamp duty. There are 100’s of tax reliefs, schemes and structures through which tax can be reduced or eliminated. Only experienced Tax Practitioners will identify all tax refunds available.
- Risk Assessment
O’KellySutton can carry out internal tax audits on your business to identify ‘at risk’ areas in the business that need to be addressed. This allows you take corrective action before a problem arises.
- Retirement and Succession Planning
It is necessary to plan well in advance of retirement or transferring assets to next of kin in order that taxes are kept to a minimum. Lack of planning can lead to substantial tax bills being left to next of kin thus causing distress and hardship. Did you know that less than 25% of family business transfer successfully to the next of kin?
- Restructuring of Share Capital for SME’s and Family Owned Companies
Dividing companies into separate companies to facilitate shareholder retirement, dispute settlements, asset disposals, etc. This may include share buybacks, or reorganisation of share capital. We facilitate restructuring in a tax efficient manner taking into consideration all tax heads including capital gains tax, income tax, and stamp duty.
- Non-domiciled and non-residence
O’KellySutton provide expert tax saving advice to foreign individuals/corporates coming to Ireland and Irish Individuals/Corporates moving abroad. We have in-depth understanding of how to maximise tax situations through Double Taxation Agreements between Ireland and many foreign countries such as UK, Germany, Poland, Portugal, Malta, Holland, Luxemburg and so on.
2. Tax Compliance
Failure to meet the necessary tax deadlines from a submission and payment point of view may trigger additional taxes, interest, penalties and surcharges. Once you are in the O’KellySutton system we take care of your taxation compliance deadlines for you.
3. Special Assignments
- Revenue audits
- VAT and PAYE audits
- C2 compliance
- Capital Goods Schemes
- NERA inspections
- Withholding tax reclaims
- Taxation clearance certificate applications
- Transfer of assets compliance
- Trading Licences – public houses, auctioneers etc