Gilroy Gannon has one of the largest teams of tax professionals in the North West. Our tax professionals have a depth of experience in providing tax advice to a diverse range of clients, both large and small.
We get to know our clients and ensure all our clients get tailored tax advice which is specific to their needs.
We seek to find tax solutions which add value for our clients.
Our tax services include:
We provide a wide range of tax services to our personal tax clients, which include assistance with submission of annual income tax returns, advising on the most tax efficient structure for our clients.
We appreciate that managing personal tax affairs is challenging for a lot of individuals, to that end we provide proactive timely advice to all our personal tax clients.
In preparing personal tax returns we don’t just calculate your tax liability instead we try to identify any tax planning opportunities available to ensure tax efficiency.
Corporate and Business Tax
We provide tax advice to a large range of business clients which range from small owner managed companies to some of the largest businesses in the region.
We use our knowledge and experience to provide valuable advice to all our business clients, which enables them to structure their affairs in the most tax efficient manner and ensures that all credits and reliefs are claimed.
We work closely with our business clients to ensure that our tax advice meets their particular business needs.
The operation of VAT provides not only an administrative burden for many businesses but also proves to be a cash flow burden for many. In Gilroy Gannon we can assist our clients in decreasing these burdens by looking at for example whether the requirement to submit VAT returns can be reduced from bi-monthly, whether the cash receipts basis for VAT can apply or if a VAT can be reclaimed on any bad debts.
Our tax team provide professional VAT advice not just on day to day transactions but also on the VAT treatment of specific transactions for example property transactions.
Capital Taxes, Succession & Estate Planning
The disposal or transfer of assets can give rise to a tax charge under many tax heads, for example Capital Gains Tax, Capital Acquisitions Tax, Stamp Duty and VAT. However, there are also a wide variety of tax reliefs available to reduce or mitigate the tax exposure, therefore there is potential for excellent tax planning opportunities in this area.
Our tax team have significant experience in identifying these tax planning opportunities and in advising on areas such as passing wealth onto next generation, the structuring of family business transactions, the use of trusts, cash extraction from family business, tax implications of buying and or selling property, tax implications of receiving gifts and inheritances and many more.
Relevant Contracts Tax
As the construction sector begins to recover it is critical that all involved in this area ensure they are compliant with their RCT obligations, as failure to do so can be costly and provide cash flow burden on businesses. We can advise you on and assist you with the operation of RCT.
Under the current environment many employers wish to find ways in which they can remunerate their employees in a tax efficient manner. Our tax team can provide advice in this area which could include advice on tax efficient termination payments, provision of long term service rewards, taxation of other benefits for example company cars to employees.
Research and Development Tax Credits
The R&D tax credit can be extremely valuable to companies to carrying out R&D activities a as not only can a tax credit of 25% can be claimed on qualifying incremental R&D expenditure. Expenditure on R&D results in an effective 37.5% tax deduction (corporation tax deduction of 12.5% + 25% tax credit). In addition where there are insufficient corporation tax liabilities to absorb the credit, a cash refund can be claimed by the company up to certain limits.
Our tax team have significant experience in making successful claims for R&D tax credits.
Revenue Audits and Investigations
As Revenue has increased their activity in recent years more and more businesses currently have to deal with Revenue audits and inquiries. Revenue checks can be comprehensive audits or single tax head audits or sometimes straightforward verification checks.
We understand that such audits can be frightening for many people, our tax team use their experience and knowledge of the tax system to deal with Revenue audits so as to try and reduce any exposure there may be.
We also provide international tax advice this includes the following, tax services for ex-pats, international tax planning services, tax advice to Irish businesses expanding overseas and tax advice to foreign companies entering commencing in Ireland.
Tax Health Checks
Our tax team can carry out a detail review of your tax affairs to identify and tax planning opportunities that you may have or indeed any possible tax exposures that may exist. Early identification and correction of any tax exposures could reduce any interest any penalties that may arise should you be selected for Revenue Audit.