Liquidating Assets from an Irish Company and the Tax Considerations

Thank you to Amicus: Search and Recruitment for Sponsoring this episode. To find your next Finance or Accounting Role, head to https://amicus.ie/ and tell them that we sent you!In this episode, Paula Byrne delves into the topic of liquidations, discussing the tax implications and various scenarios that can arise when a company goes into liquidation. She covers aspects such as chargeable gains, balancing charges, close company transactions, and the potential for shareholders to claim certain reliefs.Topic List for this Episode: Overview of Liquidations:Explanation of liquidation scenarios, including solvent and insolvent companies.Negligible value claims and loss carry forwards.Tax Implications on Asset Disposals:Chargeable gains and balancing charges on plant and machinery.Corporation tax rates applicable to chargeable gains.Sales to Shareholders:Market value sales vs. undervalued sales.Ring fencing losses and close company implications.Base cost adjustments for shares.Calculating Available Cash for Distribution:Determining cash inflows and outflows.Accounting for disposal proceeds, bank balances, receivables, payables, bank overdrafts, and long-term loans.Capital Gains Tax (CGT) for Shareholders:CGT liability on remaining cash distributions.Entrepreneurial and retirement reliefs and their respective conditions (appointment timelines for liquidators).Thank you for listening to Study For Tax in your Coffee Break! If you enjoyed the episode, make sure to leave a rating and review on your Podcast platform and share it with others to let them know you enjoyed the podcast.If you'd like to purchase the books from which the content of this podcast is made, head to https://paulabyrne.ie/tax-books/.Thank you to Matthew Bliss for editing and production of this episode. If you'd like him to edit your podcast, send an email to [email protected] or head to https://www.mbpod.com/.Mentioned in this episode:Get your Audio Revision for the 2026 ACCA Exams