We have a particular speciality in the transfer of farms and businesses. This work has been undertaken by McMahon & Williams for over 100 years. Every care is taken to ensure that the method of transfer, whether by Will or gift will be such as is the most tax efficient for all parties.
Transferring the family farm is an important event and there are many issues to be considered when a farmer decides to transfer a farm to a child or other relative or person. We will be happy to meet with you to discuss the various issues arising in order to ensure that the transfer goes ahead in the efficient manner possible. We will discuss the proposed transfer, including the financial implications, tax implications and all associated issues, such as social welfare and pension considerations and making provision for financial security in the future. Other issues to be considered include single farm payments, entitlements and quotas, forestry and the implications for other family members. We provide practical advice and we address each transaction on an individual basis so as to ensure the best possible outcome for each individual/family situation.
McMahon & Williams also provide the following services in the area of Family Business:
- Transfer of a family business including companies.
- Property financing and re-mortgaging.
- Taxation implication of transaction including stamp duty, Capital Gains Tax and Capital Gift/Inheritance Tax.
- Property/land disputes.
- Wills, Estate Planning and Administration of Estates.