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06
Nov
2024

Ulster Scoiety - Accelerated Succession: Ten points to deal with Budget related issues

Speaker: Mark Thompson
Location: Belfast

According to economists and political commentators, an increase in capital gains tax (CGT) is likely on the horizon in the Autumn budget on 30 October.


Currently, CGT for those above the basic rate of income tax sits between 20-24% depending on the asset being sold, and so when you sell your business, you will pay somewhere in that bracket on your net proceeds of sale above £3000.

Conservative estimates warn the rate could increase towards 30% and beyond, however, it is possible and not without precedent that the rate could be fixed to income tax.

Any increase would likely take effect in Spring 2025, which means tax driven disposals will not have too much time for slippage post 30 October, making it more challenging to maximise your return on investment.

It is therefore important to understand how to expedite the groundwork to make the process as seamless and effective as possible.

About Mark
Mark Thompson is a partner in A&L Goodbody's Corporate and M&A practice in Belfast. Mark is widely experienced in company and commercial law, with particular sectoral experience in the areas of energy and natural resources, healthcare and media, intellectual property and technology matters.

Mark’s corporate practice focuses on corporate finance, mergers and acquisitions, management buyouts, reorganisations and strategic advice. Mark also leads the commercial team and has extensive experience advising on commercial contracts and trading arrangements.

Key Event Details:

Date: Wednesday 6 November 2024

8:00 AM - 9:30 AM (1 hour 30 minutes)


Location: The Linenhall, 32-38 Linenhall Street, Belfast, BT2 8BG, United Kingdom

CPD: 1 hour

This event will not be available on-line or be recorded

 

 

Member Cost: €0.00 

Non member Cost: €0.00 

Places Available: 0