‘Should You Consider This As A Practice Option? An Analysis Of The Advantages Of Converting, And For Whom’
Limited liability partnerships have only been introduced in Ireland as recently as the 1st November 2019). Tax Consultant Fergal Cahill analyses their likely impact, as well as their influence on our present-day practice decisions, particularly in the context of future succession/retirement considerations.
- Limited Liability Partnerships
- Legal Services Regulation Act, 2015
- Meaning of ‘limited liability’
- Application process
- Obligations of a limited liability partner
- LLP structure
- How is an LLP taxed?
- Will many convert to LLP status, and why?
- Mergers of sole practitioners
- Is the introduction of LLPs a gamechanger for sole practitioners?
- Implications & decisions for the practical day-to-day running of the office
- Taxation issues, timing & Rules associated with becoming an LLP
- Will LLP’s make succession within practices easier?
- How LLP option will make transition to retirement easier
Fergal Cahill is Managing Director of Cahill Taxation Services. Fergal is a Chartered Tax Adviser, having spent a number of years in PwC, KPMG and FGS in both Limerick and Dublin, before setting up Cahill Taxation Services in Ennis, Co Clare, in February 2007. With twenty years’ experience, Fergal is recognised as an expert in taxation advisory and consultancy services with particular expertise in Revenue audits, corporate restructuring, personal tax planning and VAT on property.
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