Entrepreneur relief

[50thbirthday]

Hi all,

I'm thinking of availing of this relief for several reasons, but i want to be sure from a revenue point of view.
I provide professional services in the construction industry.
I have a limted company since 2016 which has cash on account. Pensions have been set up and paid into (SASS & PRSA).

I have an opportunity to set up a new company with a fellow professional carrying out a full design team service as opposed to separate services.
This will be a new structure with 50/50 shares but with different renumeration based on services provided. We will also concentrate on small residential only as the paperwork for larger commercial industrial is too stressful.

So if i proceed to liquidate my current company and pay the 10% tax and pocket the balance of funds is this acceptable to the revenue or is it seen as a value shift?

Thanks

D

 

[cloughy]

I think you need professional advice, too much at stake to get it wrong, and entrepreneur relief is not straightforward