Family business: Your paths to tax-smart business transfer

Business owners need to study the most tax-efficient options for business succession, says Eoin Hassett of ITC 

There are significant tax implications across the various options for the transfer of a business from one generation to the next. Always seek independent expert advice. Picture: iStock

There are several options when it comes to transferring a family business from one generation to the next, each with its own series of tax implications.

‘Your future — Our focus’ is the mission statement of ITC, an Irish-owned professional pension trustee company, established in 1994.