Family Business & Succession

Family Business & Succession Sector

It is a complex process – with numerous considerations to overcome – when a decision has been made to pass over the family business from one generation to the next.

At BCA, we understand these challenges and have successfully helped many of our clients navigate these issues. This process often involves an overall approach from our taxation and investment management specialists.

The vast majority of Irish businesses are family-controlled or owner-managed. In many cases, the family business provides a stable income for many members of the same family.

Passing over the business from generation to generation is a complicated process with numerous considerations to overcome.

What We Provide

Retirement Plan

At BCA, we recognise the challenges associated with retirement planning and have a proven track record of successfully guiding clients through this process over our 40-year history. Our approach often integrates the expertise of both our taxation and investment management specialists.

Financing Retirement: Family businesses often face the dual challenge of financing the founder’s retirement while ensuring a stable income stream for their successor. Profits withdrawn from the business should be wisely invested in approved retirement funds or other income-generating investments to ensure financial stability.
Planning Early: Early planning is critical, as a successful investment strategy allows the retiring generation to step away without becoming financially dependent on the business.

Succession Strategy

Our expertise in investment planning and taxation, combined with our deep understanding of your business, positions us to provide valuable insights into your succession plan. Additionally, we offer key support tools to help the next generation take leadership and successfully grow the business.

Taxation Planning: Optimizing available reliefs for retirement or asset transfers is vital. As tax legislation is subject to frequent changes, regular succession plan review ensures its continued validity. A well-thought-out succession strategy ensures a smooth transition while minimising tax liabilities
Estate Planning: Early planning is critical, as a successful investment strategy allows the retiring generation to step away without becoming financially dependent on the business.

Family Business and Succession Specialists

Caroline McGrath

Caroline heads the taxation department at the firm. With over 20 years of experience, she advises clients on personal and corporate taxation matters both domestically and internationally.

Family Business & Succession