Welcome to the February edition of HTH Accountants’ monthly newsletter! We send this out every month with news for our clients and friends about financial news and events in Ireland. In this issue, we’re looking at ways to monitor and accelerate your business, and also updates on Retirement and Entrepreneur Relief. And whatever you need, we’re available to help on (01) 541 1446.
Do you have the pulse of your business in real time?
Every successful business has its finger on the pulse. You need to know the key numbers. Not the numbers in last year’s accounts; they’re out of date. Redundant. You need today’s numbers. And that’s where your cloud accounting system comes in. If you don’t have a cloud accounting system this post will explain the benefits and how to get started.
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Top 5 ways to accelerate your business
Running a business can be highly rewarding but it can also be highly stressful. Whilst most business owners enjoy the freedom and flexibility of being your own boss, it also means that that you are in charge of everything and when something goes wrong, it is ultimately your problem to fix it.
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Retirement Relief
Retirement Relief is a Capital Gains Tax (CGT) relief in Ireland that allows individuals aged 55 or older to reduce or eliminate tax when selling or transferring business or farming assets. Despite the name, you do not actually have to retire to qualify. Significant changes to age limits and value thresholds came into effect on 1 January 2025.
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Revised Entrepreneur Relief
In Ireland, Revised Entrepreneur Relief provides a reduced Capital Gains Tax (CGT) rate of 10% on the disposal of qualifying business assets, significantly lower than the standard rate of 33%. Lifetime limits for this were changed on January 1st this year.
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Feel free to forward this newsletter on to colleagues and contacts who might find it useful - this month’s may be very useful for someone starting out with a new company or business venture. They can also subscribe, if they want to get further issues. We’ll talk to you again in March!
