Protect hard-earned legacy from lethal transition taxes and master the strategic frameworks needed to transfer ownership without destroying value (Irish Tax)
For many business owners, succession planning is viewed as a future event that can be addressed when retirement approaches. In practice, however, decisions relating to ownership structures, shareholdings, family involvement, asset transfers, and business strategy can have significant tax consequences years before a succession plan is formally implemented. Failure to address these issues early can result in lost reliefs, unexpected tax liabilities, family disputes, reduced business value, and difficulties transferring ownership to the next generation.
While reliefs and planning opportunities may be available, successful succession planning requires more than simply understanding tax legislation. Business owners and advisers must navigate commercial objectives, family dynamics, governance considerations, and long-term wealth preservation alongside evolving tax rules and compliance requirements. Increasingly, the challenge is not identifying available reliefs but ensuring that business structures and succession plans remain aligned with both family and commercial goals.
This session explores the tax and practical issues that commonly arise during family business succession planning. Participants will examine common planning mistakes, succession risks, ownership structures, and strategies for preserving business value while achieving tax-efficient outcomes for future generations.
Key Topics Discussed:
Managing Director | Taxkey
Mairéad Hennessy is the founder of Taxkey, a specialist tax consultancy dedicated to helping clients navigate complex tax matters and make confident, commercially sound decisions. Mairéad leads a team of expert Chartered Tax Consultants who work with accountants, solicitors and financial planners to deliver practical, proactive tax solutions that protect value and support informed decision-making. The firm is known for its collaborative approach and its ability to bring clarity to high-risk, high-value tax matters. With over 20 years’ experience as a tax practitioner, Mairéad is recognised for combining technical depth with commercial insight. She regularly speaks at professional conferences on tax technical matters and contributes to leading professional journals. Mairéad is actively involved in tax policy and administration through her role on the Tax Administration Liaison Committee (TALC), representing the Irish accountancy bodies on key working groups. This front-line exposure to emerging tax issues ensures her advice is current, informed and strategically focused.
