Transcript

We recently came across a quote from Winston Churchill that a UK financial advisor used on lamenting the recent tax increase in the UK budget. Churchill said, “I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle”, highlighting the dangers of relying too heavily on taxes to drive economic growth.

Mark Twain also had a sharp take on taxes, famously asking, “What is the difference between a taxidermist and a tax collector? The taxidermist takes only your skin”. His words would resonate with many who feel robbed by excessive taxation.

That said, we’d all be in trouble if taxes were too low. Without them, we wouldn’t have a health system, schools, guards or the invaluable state contributory pension. From January 2025 the state pension in Ireland will provide up to 15,043 euros per year. To put that in context, if you were trying to provide that 15,043 euros every year through your own investments, you’d need around 330,000 in cash value, assuming a 4- 5% withdrawal rate, that is what it is worth to us all, and it’s worth about 660,000 for couples with full PRSI contributions. Knowing the tax rules is vital for every business owner in Ireland. It helps avoid missing opportunities to save on unnecessary taxes and allows for smart tax decisions that can be critical for business survival and growth.

So, good morning everybody, and thank you for joining us at this morning’s webinar. My name is Enda Brady. I’m a Certified Financial Planner and one of the owners, with my brother Coman, of iQ Financial. Today’s webinar is titled “Mastering 4 key tax strategies for business owners: new updates for 2024 that will strengthen your business and personal finances”, today and into 2025 and cover strategies from our experience, that we think can help business owners make better decisions with their taxes. At the start, some housekeeping to make sure we make the most of the next 30 minutes or so, I will pass you over to Maria Devine, our Senior Financial Planning Administrator and Office Manager here at iQ Financial.

Hello. My job today is to keep things running smoothly and also keeping an eye on any questions you may ask. The way you can get involved is by clicking on the Q and A button on your screen where you can type your questions. We’ll answer any questions at the end. We don’t want anyone to leave today without their questions being answered. I’ve also put a couple of links in the chat to our website where you can access our iQ Financial guides for business owners, including “How business owners can be tax efficient and why it matters”. I’ve also put a link to our website where you can book a Learn More Call or sign up to our newsletter for business owners. After the webinar, we will send a follow up email with a recording of this session, the slides, and the links to our guides for business owners, so if you miss anything, you can catch up later. Now I will hand back to Enda to get started.

To set the scene, the strategies we will discuss this morning sit in the area that crosses between the advice you should expect to get from a tax consultant and the advice you should expect to get from your financial planner or advisor, the reliable tax strategies that can improve your personal wealth. Tax Planning is a team sport. Before you make any decision, you should consult both your financial planner and your specialist tax consultant. Your tax consultant may very well be the accountancy firm you use whoever looks after your tax queries.
The four key tax strategies we will look at this morning are options for taking wealth from your business, how to provide for your family, tax efficiently, how pensions can add up to 5.6 million of tax efficient wealth building. And finally, the benefits of knowing your number, a tax strategy that may not have been explained to you before.

We’re conscious that there are some attendees that may not know about iQ Financial, and what we do, have not yet registered for our business owners’ newsletter, connected with us to get LinkedIn content, or attended one of our webinars before.

At iQ Financial, we provide a Financial Planning and Investment Management Service to business owners. We help business owners make the most of their money. We advise owners over 45 who want to sell, retire, or make work optional in 5 to 10 years. We help owners plan for retirement, provide for their family. And invest wisely. www.iqf.ie is the best place to go to learn more or contact us, and we’ll share more ways to get in touch just before the end.

We received some fantastic news recently, for the first time, we were shortlisted for the Financial Advisor of the Year Award at the 2024 Irish Pension Awards, and we’re delighted with that.

A business can be used in a few ways to provide wealth for you and your family, and not just by providing an income or a lump sum. If you’re fortunate enough to sell your business, the vast majority of businesses will end in one of the following three ways, sold to a third party, sold or passed to your family, or the business will be wound up and liquidated, many times in an orderly fashion.

As a business owner, if your plan is that at some point in the future, there will be a sale of your business that will provide for you thereafter, relying on sale proceeds alone to provide for your personal needs can often be a risk you do not need to take. You’re relying on there being a market for your business. You’re relying on decent valuations being available, and you’re relying on favorable tax rules being in place so that the net amount you receive from that sale is enough for all your personal needs for the following decades, and you’re relying on these conditions happening all at the one time you want to sell.

So how can you ensure, as a business owner that you can have the money you need for yourself and your family and have the flexibility to decide how you want to exit your business in a tax efficient manner in the future. When a business owner has accumulated personal wealth throughout their working life, it puts them in a much stronger situation to deal with options for businesses down the line, and knowing those options to extract capital from your business will help you be in a stronger position to make those decisions in the future.

So what are the options for taking wealth from your business. In our experience, there are five main options available to business owners to help them take money out of their business. When we refer to business owners, we mean sole traders, self-employed individuals, company directors or partners in partnerships.
The first option of paying yourself a salary from a business can help extract wealth slowly over the course of your career, this option will be subject to income tax and you’ll pay up to 52%.

Dividends are less common option than salary. Dividends are subject to dividend-withholding tax and can only be paid if the business is profitable. For owners of limited companies, you may pay yourself a salary, even if you run a loss that year, you can’t pay a dividend.

Regardless of the type of business you have, you can use your business cash flow to purchase purchase assets for your personal use, such as a car being the most common example of this. This is subject to what’s called benefit in kind tax or BIK.

A fourth option is the sale or liquidation of your business itself. There are important reliefs to be aware of, entrepreneur relief, retirement relief and termination payments. These reliefs have the effect of reducing the amount of tax paid when you sell or liquidate your business.

The final option of five is to use pension accounts that are available to all types of business owners. In a pension account, the government is increasing from 2026 the total value allowed in a pension from just over 2 million today, up to 2.8 million from 2029 and pensions can provide both tax free and tax reduced lump sums when you exit.

I want to explain these reliefs and options if you sell or liquidate in a little more detail. There are three reliefs to be aware of when it comes to the point where you’re selling your business or you’re winding up your business. And many business owners may not know these reliefs are available regardless of whether you’re selling to a third party or winding up your business in an orderly fashion. If you think you’ll never sell your business, every business owner can still plan to make the most of these reliefs. There are three reliefs I want to bring to your attention, and we’ll share changes announced in the recent budget.

So, retirement relief, entrepreneur relief and termination payments. Retirement relief leads to a reduction in the amount of profit that’s subject to 33% capital gains tax when you sell or liquidate your business. There are two types of retirement relief, and they’re both available from age 55 so age 55 is an important milestone when it comes to planning. The two types of retirement relief apply depending on whether you’re disposing your business to a child or whether you’re disposing your business to somebody outside your family. When selling your business to a child, between age 55 and 65 you can claim full retirement relief. For every million of value, you can save 330,000 of potential capital gains tax cost.

Now, in the last year, the government made two sets of announcements in relation to a change in retirement relief when selling to your family, new rules are about to come into force from 1 January 2025 you have, up until age 70, not 65, to pass your business or farm to your child and get full relief. A clawback of relief will apply to assets with a value over 10 million, where the child subsequently disposes of the business within 12 years. So there’s no restriction on the value that can be transferred to your child, and you have now up to age 70, if needed, but a capital gains tax clawback applies on subsequent sales over 10 million within 12 years, compared to a capital gains tax clawback that currently applies to subsequent sales within six years. If you’re disposing your business or farm to somebody from outside your family, you could receive 750,000 euros without paying capital gains tax if you’re between age 55 and 65 that would save you 247,500 compared to paying 33% on the value. And you can receive up to 500,000 age 66 and older, this would save 165,000 in tax. This is a personal lifetime limit. So if you owned your business 50/50, with your spouse, you both personally could avail of this relief. And for example, up to age 66 receive a combined 1.5 million if you’re selling to a third party, which is a saving of 495,000 in capital gains tax cost. So these are significant numbers and an important relief to be aware of.

The second relief is called entrepreneur relief. This again leads to a reduction in the amount of profit that’s subject to 33% capital gains tax. The key information here is that the first 1 million of gain from the sale or liquidation of your company is subject to a 10% capital gains tax rate. So instead of paying 330,000 on the first million, you pay 100,000 euros, which is a saving of 230,000 it’s a significant saving. Again, this is a personal lifetime limit. So if you owned your business 50/50 with your spouse, you both personally could avail of this relief on the first 2 million of value and pay 200,000 in capital gains tax, instead of 660,000 a saving of up to 460,000 in capital gains tax cost.

The final one of the important three reliefs is termination payments. A shareholder in a company can receive a lump sum payment exempt from tax on redundancy or retirement from your business, there’s three different calculations that can be used to calculate the maximum termination payment available. Your tax advisor will be the expert on those calculations. The longer your length of salaried employment, the greater amount that you can qualify for under the termination payment rule, up to a lifetime limit of 200,000.

That’s the three reliefs when you’re planning the exit from your business. It’s important to know that these three reliefs are available, and important to know the amount of funds you could extract from your business and the amount of tax that could be saved.

The second area we want to cover this morning is how to provide for your family tax efficiently. Using capital gains tax reliefs, as we have already mentioned, can be a very important strategy if your plan is to transfer your business to your family. Before we finish today, we’ll also talk about changes in pensions that will help you build personal wealth, which ultimately will help you provide for your family.

In addition, there are three other tax strategies we want to highlight to you this morning. Firstly, you may know, you may not, you can alive or dead, gift or leave as an inheritance a six figure sum to your children. The taxes that dictate how much one of your children can receive from you in your child’s lifetime is called Capital Acquisitions Tax, or CAT, and the amounts you can give your family before your family members have to pay any CA. There are the new thresholds for gifts or inheritance from parents to children, including adopted and foster children. The lifetime threshold has been increased from 335,000 euros to 400,000 euros for gifts or inheritance from other relatives, like grandparents, siblings, aunts or uncles. This threshold has risen from 32,500 to 40,000 and finally, for gifts or inheritance from anybody else that doesn’t fall into those two groups, the threshold has increased from 16,250 to 20,000. All amounts above these thresholds will be subject to Capital Acquisitions Tax at a rate of 33% so if, for example, one of your children received assets valued at over 400,000 on your death by inheriting a property, for instance, they would pay 33% on the value above 400,000 and that tax bill is due at different times in the year, but within 12 months of inheriting the asset. So it’s important to plan ahead, especially if you don’t want your children to have to sell properties or liquidate investments to pay estate taxes.

There is an additional tax strategy called the annual gift exemption. And following the recent budget, this gift exemption, amount remains at 3000 euros. This exemption allows individuals to gift up to 3000 euros every year to any person, including children under 18 years of age, without incurring CAT, and it can be used by both spouses to double the exemption so parents, and we see fairly frequently grandparents, gifting family members 6000 a year without the CAT thresholds being reduced, and that can make a big difference over time.

In some cases, Family Partnerships and holding companies can help transfer wealth to your family tax-efficiently. If you’ve reached your Financial Independence Target and you’re comfortable that you have enough, Family Partnerships and holding companies can be more appropriate to help transfer wealth to the next generation. The tax advisor on your team will have the detailed advice to help you implement the right solution. And we’ve seen both of these strategies used.

We would encourage business owners, if they want to support their children, to do so in a deliberate way when they are comfortable that their own needs are addressed, transferring agreed and deliberate amounts to their children as a gift when you are alive, instead of an unknown amount of money at an unknown time in the future when your children are likely to be much older and probably less in need of the funds, is a worthwhile plan to review and agree and a good use of your assets. We’ll just take a pause there before we talk about the final two areas that we want to cover this morning and Maria has a reminder for you.

Just to let you know that the questions and comments that you write in the Q and A, they’re not visible to everyone. Only Enda and myself can see them, and we’ll read out the questions at the end. Comments in the chat are visible for everyone. If you want to talk about any of the topics we covered in more detail, you can send us a message in the Q and A and I’ll set up a meeting for you. Or you can click the link I’ve put in the chat for our website. I’ll now hand back to End.

Thanks, Maria. We’re now going to look at how pensions can reliably save tax and build up to 5.6 million in long term wealth. And finally, we’re going to share a tax strategy that may not have been explained to you before.

How can pensions be a tax efficient strategy and build up to 5.6 million in wealth? Let’s use an example for this. These clients are both aged 50, and we’re conscious that we’ve talked a fair amount about owners of limited companies. This example is of a sole trader who, because of her situation, cannot incorporate. We’re calling her Mary. And Mary is married to John, and John is an employee of another business. Existing pension funds for Mary and John and other investments and a property they have are valued at 1.2 million, excluding the value of their home, Mary’s salary is 120,000 per year, and John’s salary is 40,000 per year. In this example, we worked out Mary and John’s target retirement fund is two and a half million. That’s their number. This is important. How are they going to get to their number? What are the best options for Mary as a sole trader and business owner?

Well, Mary can try to grow a turnover and try to get more salary and potentially pay up to 52% in income taxes and invest extra net salary. Mary might be able to sell part or all of the business. There could be opportunities to incorporate in future, and that could give them options. Mary and John can also look at pension funding for self-employed sole traders and all employees. You can use a rising percentage of the first 115,000 of your salary, depending on your age, and get tax relief on that amount when it’s contributed to your pension account. Mary and John are both 50, and they can between the age of 50 and 54 lodge up to 34,500 a year each to their pensions. Between 55 and 59 they can lodge up to 40,250 a year. And from age 60 and older, they can lodge up to 46,000 a year. You can deduct the amount you contribute to your pension from your income and pay less income tax because you are being taxed at a lower amount of salary.

So how can pension funding be a reliable foundation for Mary and John to achieve their two and a half million target? Where will they be in 10 years if they invest in line with the maximum reliefs available. Mary and John would have the scope to invest over half a million euros over the next 10 years into their retirement funds. Using a conservative yearly return over 10 years of four and a half percent that 850,000 they started with, with the additional 500,000 invested, would grow their pension to 1,939,054 euros, almost 2 million. Getting that would break the back significantly on the retirement target, and it takes the pressure off having to sell the business.

We can think of at least 10 reasons why a pension should be at the heart of tax efficient planning for business owners. The first benefit is income tax savings. Your taxable income is reduced by the amount you contribute to a pension a saving of up to 52% of the amount contributed.

The second benefit is corporation tax savings. If you’re a company owner, your company can contribute funds from your business bank account directly to your personal pension and include that amount as an expense, and your corporation tax bill is reduced by 12.5 percent. There’s no benefit in kind applied to your pension contributions (from 2025 no BIK applies on pension contributions up to 100% of your yearly income). Any gains and compound gains, if prudently invested, can grow tax free in your pension account.

For as long as your pension account exists, you’ll be able to accumulate up to 2.8 million in your pension account at current rates, that could save you almost 1.5 million euros in income taxes over your career. That’s up to 5.6 million that can be accumulated for a couple, and potentially almost 3 million income tax saved.

If you employ your family in your business, you can accumulate up to an additional 2.8 million for each of your children as part of your succession or estate plan.

Then, when it comes to taking money out of your pension, you can access up to 440,000 via tax free or tax reduced lump sums, 880,000 for a couple. You can access pensions from previous employments from age 50, you can access pensions from current employments from age 60 and continue to work.
Any unspent pension funds are available to your estate if you die from age 65 there’s an income exemption of 18,000 per year, or 36,000 for a married couple, where you can earn up to 36,000 as a couple per year without paying PAYE income taxes. Pension income in retirement is one of the incomes that qualifies for that exemption.

Pensions are probably the most reliable way to build wealth from your business.

A positive announcement from the budget was that the maximum value that can be accumulated tax free in your pension is to be increased up to 2.8 million, or as we explained, 5.6 million combined for a couple by 2029 the current maximum lifetime limit allowed in.A pension is just over 2 million between 2026 and 2029. This is increasing each year by 200,000 and then linked to wage increases from 2030 onwards.

The door is closing on one pension strategy on December the 31st this year. From January of last year, 2023 up to the end of this year, December 2024, business owners, in certain cases, can lodge up to 2 million to a pension account called a Personal Retirement Savings Account, or PRSA. From 1 January 2025 that amount is being restricted to 100% of your yearly salary.

Despite some of the commentary that we have seen, we don’t want to create any alarm on this one, but for some business owners, it might make sense to make a one off contribution to your pension in the next two months before the end of 2024. If you’re a business owner and the only pension account you have is a PRSA, the amount you need to invest each year to meet your target is more than the salary you’re likely to take from the business. From now onwards, you want to extract extra funds from the business, and you have surplus funds in the business today.

For some business owners who may not have started funding a pension or need to catch up and have surplus funds, it’s something that should be reviewed now, particularly if you’ve no pension at all, because it will take four to five weeks to get your account open in the first place. So it’s important to bring that to your attention.

Finally, here’s a tax strategy that may not have been explained to you before. It’s important for business owners to know the retirement fund they need to accumulate to give them the choice to work. So knowing your retirement fund, knowing your number, is the start of tax efficient planning, and financial planning should add real value here. When you do a personal financial plan, you will list what’s important to you. You’ll put a figure in today’s terms on what your desired lifestyle would cost yearly. You can estimate the retirement fund you need at the age you want the choice to work, and you’ll know what you need to invest each year to get there. It’s a team sport, as we have said before, your financial planner should project manage your plan, working with you, your accountant, solicitor and tax advisor.

So why is knowing your target retirement fund important for tax planning. If you know your target retirement fund, you can make better tax decisions. You can make better decisions about the amount of salary you should take from your business, which can save you tax, and you can make better decisions about how much cash you need for emergencies, both in your business and personally, how much you need to invest each year, how much is the minimum you need to get if you sell your business, the returns you need to achieve, and you’ll know how best to use the available tax rules.

So tax planning starts with understanding your target retirement fund. We also have more sophisticated technology to help us plan in a way that looks at your overall financial situation instead of forcing you to make decisions piecemeal. Something that can help you look in advance at the different tax implications of decisions you might make.

In summary, the four areas we covered this morning are the options for taking wealth from your business. We looked at the reliefs available there, in particular, how to provide for your family tax-efficiently, how pensions can build up to 5.6 million in wealth. And finally, knowing your number, the importance of knowing your target retirement fund as part of your tax planning.

Finally, before we take questions, what are your next steps?

We suggest you should ask yourself the following, are you in your late 40s, early 50s or older, and need to put plans in place to satisfy the conditions to use retirement relief or entrepreneur relief?

Do you need to make provision for your children, and do you know how to do that tax efficiently?

Are you one of the business owners who should make a larger than normal contribution to your pension before the 31st of December 2024?

Or have you a personal financial plan which sets out in a tax efficient manner how much you need to be financially independent, the best way for you to exit your business, how you will provide for your family and how to invest wisely?

If any of these resonate with you, contact us to discuss your personal plan and tax options. This might be the step that saves you 1000s and gives you peace of mind. Maria, I’ll take a breath there, and we’ll take questions.

Okay, yes, have a look at your questions now. If we run over time, which we likely will with the Q and A, we understand if anyone needs to leave, but we will stay online to answer all the questions. Everyone who registered for our webinar this morning will receive a recording and a copy of the slides, so you will be able to watch the question section again if needed. Some people wrote in questions when they registered, so thank you for doing that.

First one is, “Can you combine the reliefs if you’re selling or winding up your business?”

In the examples that we’ve had, we’ve been involved in about 15 transactions that involved our clients, where they were selling or winding up their business in the last two and a half years. I take it they’re talking about retirement relief and entrepreneur relief. We haven’t seen a situation where they were combined, but in in a certain situation, our understanding is that if you sell, if you use retirement relief, first, within those limits, to transfer some of your business to your family, and then another part of your gain is from a subsequent sale to a third party, entrepreneurial relief for you could be combined with retirement relief. So there is a sequence of events when both retirement relief and entrepreneur relief could be combined. We’ve never seen that. We’ve normally seen one or the other used. But in theory, reliefs could be combined in that fashion.

Okay, thank you. The next question is, “What’s the maximum pension contribution allowed by December 31 this year compared to next year?

Well, today, in certain circumstances, individuals can lodge up to 2 million euros in certain circumstances, if they’re a business owner and they have one of the pension accounts called a Personal Retirement Savings Account or a PRSA. So in certain cases, individuals may be able to do that, we need to be very careful. They need to be bona fide pension contributions. And there is a little bit more to it, but the maximum, to answer the person’s question, is up to 2 million. And that’s changing from 1 January 2025 when the maximum will be 100% of your salary, to the account called a PRSA. There is one other type of account, a pension account for business owners, and we can talk to that person in a little bit more detail about it. But the maximum, to answer the question, is up to 2 million by the 31st of December 2024 and that’s changing from January 2025 onwards to a cap of 100% of your salary, instead of 2 million.

Okay, that’s great. Another question is, “How long does it take to complete your personal financial plan, and what’s involved?”

It takes four to six weeks to complete your financial plan. For new customers, when they come to us, we have an approach over three meetings. We call them a discovery meeting, a strategy meeting and an implementation meeting, and it takes about four to six weeks.

Another question from Declan, who wanted to talk about the best investment options.

We have a webinars page on our website, so we did a webinar earlier this year on highlighting the biggest investment mistakes that we’ve seen business owners make in Ireland in the last 19 years. We’ve been in business 19 years, and it explains our investment philosophy and exactly how we think you should, what investment options are available, to answer your question and exactly how we think we should approach it. So we’ll make sure Declan that we’ll email you a link to that webinar from earlier this year, and that’ll give you an answer to all the investment options available and how we think you should put your money to work.

That’s great. We have a question from Peter, who wants to discuss the considerations of salary sacrifice.

Salary sacrifice is a term used where you were taking a particular salary from your business, and you decided to take less salary and put the amount you were taking as salary into your pension instead. So bona fide pension contributions are not going to involve salary sacrifice. Now, um, lots of owners, for different reasons, based on changing turnover, will take different salary amounts from their business and make different pension amounts depending on the cash flow of the business. But if there’s a deliberate, consistent reduction in the ongoing salary you have, to make extra pension contributions. That’s not deemed to be bona fide contributions. There are lots of different situations where business owners can change their salary and change their pension contribution. And so the considerations there on salary sacrifice for business owners is that, have they been taking a consistent salary with the consistent turnover, and had they deliberately reduced that salary on a consistent basis just to make new pension contributions. So there can be a situations where that’s not a bona fide pension contribution and that’s not compliant, and the considerations to think about in relation to salary sacrifice is what your salary level has been like in previous years, and what your contributions to your pensions have been and what’s your salary and contributions to your pensions have been going forward, and we can help you navigate the salary sacrifice area to make sure that you can continue to pay yourself the salary you need to and that you can continue not to fall foul of the salary sacrifice rules.

Thank you. Michael sent in a question, “How the budget set out by the government affects tax reliefs on pension contributions for both employee and employer?”

So just two quick things on that, if you’re an employee and you happen to be a director of a limited company and you’re also an employee, you can use your limited company to make pension contributions and get a corporation tax relief. And you can also use the personal arising percentage of the first 115,000 of your PAYE contributions, ou can also make pension contributions and receive reliefs there. So the reliefs in relation to employer or employee contributions have not been changed in the recent budget. The budget has just gone through the Dáil last night, the Finance Act, which underpins the budget that’s gone through last night, and our understanding is that it’s in the Seanad today, and should be launched shortly. So there’s been no change to the reliefs on pension contributions for employee and employers. The one thing I would say, and we’ll be getting information out about this as we go through the coming weeks, is that there is a new pension scheme for employees that employers need to be aware of, called auto enrollment, which I’m sure many of you have already heard about, and that’s due to start in September next year. So pension contributions released for employees and how employers should plan for that there’ll be new information under the auto enrollment system, and we’ll get more information out to you on all of that in the coming weeks. But no, but no specific change to release this budget.

Thank you. We have a question coming on the Q and A, “Does the potential gift of 6000 euros per annum, reduce the 400,000 euros in lifetime available to one’s children?”

No, so it’ll be 6000 if two people gift the same person. So parents or grandparents might double the annual gift exemption. The annual gift exemption is 3000 euros, a parent or grandparent might double that, so that both parents or both grandparents pay 6000 euros, double the exemption. But if you receive 6000 euros, you need to be receiving it from two people, and if you do, it won’t reduce the new 400,000 capital acquisitions tax threshold.

Okay, thank you. We had another question from Miriam saying, “Can I put the link in the chat for the webinar relating to investment opportunities?” So I have just now put that link to our webinars in there. And then we have one last question from Noel, “What are the top five KPI a business owner should be monitoring in his monthly accounts. And why?”

Okay, thanks for the question. Noel, the top five KPIs that a business owner should be monitoring in their monthly accounts. Noel, that’s really one for your accountant. We’ll contact you separately after the webinar to make sure we’re not missing something on that. But if it’s, if it’s KPIs that should be monitored in monthly accounts in relation to your turnover and good cost management and tips to make the most of your business turnover and the management of your monthly finances to your business that one would be more for your accountant than for us.

Okay, that’s great. That’s the end of the questions now.

As we have said, on another webinar, one of our goals today is very much to jolt you into action. This is just information, unless you take action. Picture, your hard earned profits, supporting your family, your retirement, your legacy, not lost in unnecessary taxes. We’re here to guide you through it. Contact us to start turning that picture into your reality.

If you go to our website, which is www.iqf.ie you can book some time directly in our diaries using the book a Learn More Call button at the top, where we can learn more about your query. You can email us using clients@iqf.ie or call us on 0719155560.

Thank you for attending. We hope you found value in this webinar, and we welcome any feedback to help us with future events. This was our last webinar of 2024. If you missed any you can catch up on our website webinars page, including the webinar about investments that we just mentioned. If you are not yet subscribed to our business owners’ newsletter, let us know, or you can sign up on our website and be included in the November edition, going out next week. Look out for our next webinar in early 2025 and we’re always working to improve these sessions, to be as helpful as we can for you. Thanks a million for your time this morning. Goodbye.