Capital gains tax: Proposed change 'could create a succession cliff edge for family firms'

Prior to Budget 2025, the Government is being urged not to apply CGT liability to transfers of family business worth more than €10m

Dave O’Brien, head of tax at Irish accountancy company Xeinadin, previously Quintas, warned of the effects the proposed CGT changes will have on family firms. File picture: Dan Linehan 

A business representative group has branded as “illogical” capital gains tax (CGT) changes coming down the line for large family-owned business which could have significant ramifications for the domestic economy.

Isme urged the Government to eliminate the proposal to apply a CGT liability to the transfer of family businesses worth more than €10m, which it claimed may stifle the growth and continuity of indigenous business.