If you are looking for a tax efficient exit, a company buyback is definitely an option to consider.
This could provide you with capital gains tax treatment once all the conditions are met.
You do not want the proceeds from the buyback to be deemed a distribution by Revenue and subject to income tax, USC & PRSI.
I see that there has been a substantial increase in the value of your shareholding based on your posting in this thread in Sep 2019:
My Details: Age 41 PAYE Worker & Director of current employers with a small shareholding Income €55,000 Bonus approx. €15,000 PA, of which €5,000 PA single contribution made by business to my pension in addition to that noted below. Pension: New Ireland Executive Pension (Passive Iris) Current...
www.askaboutmoney.com
Does the increase in the shareholding represent a capital gain or were there share purchases in the interim?
If going down the company buyback route, it is very important that this document is reviewed:
There are
very strict conditions to be met if CGT treatment is to be availed of and for the proceeds not to be deemed a distribution.
Key things to be aware of:
1. The company is a trading company;
and
2. Shares have been owned by the vendor for 5 years prior to buyback;
and
3. The buyback is for the company's benefit;
and
4. The vendor is resident and ordinarily resident in Ireland in the year of the buyback;
and
5. The vendor has severed ALL connections with the company - NO residual shareholding, NO directorships, NO employment etc. This also extends to your associates (i.e. family) I believe.
If ALL the above are met, you could qualify for CGT treatment on the disposal of your shares to the company.
Also, the company is deemed a third party for the purposes of the disposal and Entrepreneur Relief could apply, reducing the CGT rate from 33% to 10% on lifetime capital gains up to €1,000,000, providing:
1. The business is a qualifying business;
and
2. At least 5% of the share capital has been owned for a continuous period of 3 years in the last 5 years prior to disposal;
and
3. The individual has been a director or employee of a company required to spend 50%+ of their working time in a managerial / technical capacity in the company for a continuous period of 3 out of the 5 years immediately prior to the disposal of the chargeable assets.
You could also look into a severance payment from the company too. This could allow access to some tax free funds.
Don't forget your annual capital gains tax free exemption too of €1,270!
I see you have an Executive Pension Plan with New Ireland. Perhaps there is something to be looked at there as well that some of the pension experts on this forum could advise on.
Make sure you get good advice and employ a professional.