‘An Overview Of Our Current Tax System With Illustrative Practical Case Studies Of Tax Planning & The Application of General Tax Principles To Legal Practice’

What would be good sound tax advice to an average solicitor today? How should we best manage our practice, investments and financial affairs going forward?

Using plenty of interesting anecdotal examples of what tax structures have and haven’t worked for practitioners, Fergal Cahill, Tax Consultant of CTS Taxation Services, gives us an illuminating analysis of how we typically managed and planned our finances ‘before the bust’ based on the advice and norms of the time, and compares them to where those ‘investments’ are now, and how the advice and tax planning would be so different today.

He also covers interesting and relevant areas including start-ups, typical business structures -v- possible better structures, CAT and the basic reliefs available, and where legal practices are amongst all of this.

Topics Covered:

  • Fergal delves into the following areas, giving us some great practical case studies to illustrate their respective advantages and disadvantages, and how each might relate to us as unincorporated legal practitioners:

    Income tax & ‘Consumption’

  • Pensions – what is an ‘optimal level’ for your fund
  • Capital Taxes & Reliefs
  • Corporation Tax on different types of income
  • Retirement Relief
  • Entrepreneur Relief
  • Section 626B Relief for companies from CGT
  • Structuring Businesses, Start-Ups & Existing
  • Where are we in all of this, and how should we prudently move forward from here?

Speaker:

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.

Category of CPD: Management (or General)*
Duration: 1.3 Hours

(*which you can also use as General CPD if you have already done your mandatory Management hours).

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