Business Start-ups

At WENTWORTH. we provide a full range of supports for business start-ups. If you have a business idea or you are thinking of going in to business contact use for a consultation. We can advise you on the following;

• Sole trader versus limited company
• Choosing the business structure which is right for you
• Reliefs and incentives for Entrepreneurs

Other related services:

Some of the start-up reliefs which are currently in place include the following:

CGT Relief

Budget 2014 introduced a CGT relief for Entrepreneurs. The relief is aimed at encouraging Entrepreneurs to invest and re-invest in assets used in new productive trading activities or a new trading company.

The relief will apply to a person who has already paid CGT in Ireland on the disposal of assets, and then subsequently makes an investment of at least €10,000 in a new business in the period from 1 January 2014 to 31 December 2018. The relief applies to the disposal of the new investment, which would be the second disposal of an investment by an Entrepreneur for the purposes of the relief. The second disposal can be no earlier than three years after making that investment.

The CGT payable on the disposal of the new investment, i.e. the asset invested in between 2014 and 2018, will be reduced by the lower of:

• The CGT payable by the person on a prior disposal of assets which occurred on or after 1 January 2010, and
• 50% of the CGT due on the disposal of the new investment.

Start-up Refunds for Entrepreneurs (SURE)

SURE is a tax relief incentive scheme. Owners of new start-up companies may be entitled to an income tax refund of up to 41% of the capital that they invest under SURE. Depending on the size of the investment individuals may be entitled to a refund of income tax paid over the 6 years prior to the year in which the investment is made.

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