If you are approaching retirement or planning your exit from your business, there are some tax measures you need to get right. Without proper planning, you may trigger tax liabilities that could otherwise be avoided.
Pensions
Should your Company make one final lump sum payment to your pension prior to your retirement?
When you access your pension, are you positioned to receive the maximum €200,000 tax-free from your fund, with potentially a further €300,000 at a reduced rate of 20%?
If your spouse is employed in the business, is there scope to top up his or her pension prior to retirement?
What annual income will you get from your pension? How will that impact your future income tax liability?
Your Business Sale/Transfer/Liquidation
Before the sale or transfer of ownership of your business, have you looked at the potential to get €750,000 tax-free using “Retirement Relief” or up to €1,500,000 million at a reduced 10% tax rate using “Entrepreneurial Relief “
Inheritance Tax Planning
How will your exit from your business impact any current inheritance tax planning measures you have taken, and/or what changes may need to be considered in the future?
If yes, now is the time to act.
Tax reliefs are legal ways to keep more of your own money. By using tax reliefs, you essentially get some great financial boosts:
We take a full overview of your situation to identify tax opportunities.
We ensure you and your family are financially secure for the rest of your lives.
We identify and propose solutions as to how to keep income tax and capital gains tax to a minimum.
We ensure everything is completed tax efficiently to provide you and your family with substantial savings.
Annual taxation, pension advice, and revenue rule updates.
Detailed picture of your income & expenditure for the rest of your life.
Understand your financial goals
Identify current and potential CAT and tax liabilities
Discuss the "THE BIGGER PICTURE" for you, your family and your company
We email you on a summary and short plan with our tax recommendations
We agree the implementation plan review the outcome
Transparent, Qualified & Trusted Pension Advisors
Qualified Financial Advisors with more than 20 years of experience
Advice on Applicable Revenue Reliefs For Your Situation
Tax and Pension Advice that Aligns with Your Financial Goals
Non-Bias, Clear And Concise Advice, Summaried In Language You Understand
Regulated by the Central Bank of Ireland
Peace of Mind for Families Across Ireland
After so many years working and building up my Pension it was quite daunting when the time came to access my Pension. There were lots of different options available to me and I wanted to make sure I was fully informed. Michael in Guardian Wealth helped me to understand the immediate and long-term implication of the options available to me and guided me through the process. I would have no hesitation recommending Guardian Wealth.
Trying to make a decision between keeping my existing Defined Benefit Scheme or taking a transfer value was not a clear decision for me. I needed to take advice from somebody with experience so was very happy when I reached out to Michael in Guardian Wealth. Once we weighed up the advantages and disadvantages of each option it became clear to me what I needed to do. I would recommend Guardian Wealth to anybody trying to make a similar decision.
I have been receiving advice from Jim Doyle in Guardian Wealth for 3 years. I was advised by a friend to use Guardian Wealth and so I contacted them when the time came to access my pension. Jim has been very good to me and has given me great advice over the years. He keeps in touch to give me updates on my pension and he is always available by phone if I have any questions. I am delighted that I am dealing with Guardian Wealth. They are a professional outfit and very straightforward to deal with.
I contacted Guardian Wealth as I was looking to get advice on how best to transfer my UK Pension back to Ireland. I met with Michael a few days later and he explained the process to me, and we got the documentation completed to enact the transfer. I don’t think it was something that I could have completed myself, so I am more than happy to recommend Guardian Wealth to anybody looking to transfer their UK Pension back to Ireland.
Trying to get my UK Pension transferred to Ireland was a confusing process. I was getting different advice and opinions from different sources. Michael reviewed my circumstances and was able to explain exactly what my options were. He also contacted the UK pension provider to make sure the process went smoothly. I would have no hesitation recommending Guardian Wealth.
Many thanks for all your help in making the transfer so seamless. I have to say I thought you did an excellent job and I am lucky to have landed on your website when I first started looking for someone to help me on this.
I had been researching the possibility of transferring my UK Pension back to Ireland for quite some time. However, it wasn’t clear to me what steps I had to take to get it done. Once I contacted Guardian Wealth Jim was able to explain the process to me, organise the paperwork and deal with my UK Pension provider. I am happy to recommend Guardian Wealth to anybody who needs help with their UK Pension transfer.
Drawing down my Pension was a big financial decision and I was very happy I chose Guardian Wealth. Michael clearly explained my options to me and dealt with my insurance company to make sure it went smoothly. I now meet with Michael every year to make sure my retirement plans are on track. I have no hesitation in recommending Guardian Wealth’
I have experienced the ups and downs of Pension funds over many years. As I got closer to retirement, I needed to get advice regarding the risk profile of my pension funds as I didn’t want to see it fall in value at this stage of my life. Michael was able to provide practical steps to make sure this risk was reduced for me and I am happy that I am on the right road. They are always at the end of a phone & very accommodating to meet at short notice to discuss any queries that we may have. I do recommend Guardian Wealth to anybody worried about their pension.
I had my Pension with my Bank but as the fund grew, I was becoming more and more concerned that I was always dealing with somebody different. I wanted to have a direct line to somebody who could advise me and meet with me as my circumstances changed over time. Michael is my Pension Advisor now and is always at the end of the phone whenever I need him. I am happy to recommend Guardian Wealth.
Trying to map out a personal financial plan is not an easy task. As most business owners know we spend so much of our time making sure our business is successful, we don’t always have the time or the ability to understand what our personal finances will look like 20 or 30 years from now. Michael, in Guardian Wealth, was able to show me what I needed to do now to ensure I was going to be financially independent when I am older. We meet every year to review progress and I am more than happy to recommend him and Guardian Wealth.
Like most business owners I put most of my energy into making sure my business is successful. Very often that leaves little time to stop and look at my bigger picture financial position, and plan for the future. I have been working with Michael in Guardian Wealth for a number of years now and it’s great to know that he has a financial plan in place for me, and meets with me regularly to make sure I am on track. I am happy to recommend Guardian Wealth.
My husband and I contacted Guardian Wealth seeking advice and help with our pensions. I am an ex Aer Lingus employee and I found it very difficult dealing with Mercer. We met with Jim Doyle in Guardian Wealth. He gave us straightforward advice and clearly explained the options available and the process to me. Jim and his team were very efficient and easy to deal with. They dealt directly with Mercer on my behalf and got everything sorted for me. I am more than happy to recommend Guardian Wealth if you are looking for pension advice.
I would like to sincerely thank you and the rest of the team at Guardian Wealth for the professionalism and due diligence in facilitating my pension transfer from the U.K. You yourself & Stefan carried out your duties in an exemplary manner, always returning calls and emails (a rare thing unfortunately these days but one to my mind which sets Guardian Wealth and yourself particularly high in customer relations). I would have absolutely no hesitation in using yourselves again or recommending you to others.
If you ever want to gift money or assets to your children, then you have to consider the gift tax. Gift tax in Ireland is 33%. Here are a few useful tips on how to avoid having to pay gift tax in Ireland:
If you ever want to gift assets to your children, having a plan in advance can take the worry away. A Section 73 policy is designed to help you manage and save for future Capital Acquisitions Tax or CAT). Visit our Section 73 Policy page for more information.
No, inheritance planning is not solely for the wealthy. It’s a crucial process for anyone who wants to ensure their assets are distributed according to their wishes and to protect their loved ones after they’re gone.
Firstly, check if the financial advisor has a recognised professional qualification to give financial advice. Also, check if they have experience advising people in similar situations to yours, and lastly, check that they are regulated to give you advice.
