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Hi Alan,
Clients – husband and wife both aged 59 sold their business last year. The only asset left in their company now is €250k in cash.
Is there any tax efficient way of extracting this from the company? The best way that I can see is to liquidate the company and pay CGT at 33%.
Is there any scope to put any of the cash balance into a pension fund to minimise the tax?
Currently both husband and wife are taking small salaries from the company cash balance each month. They are paying minimal tax and prsi on these salaries.
My clients are thinking of purchasing a building for their daughter with a view to her setting up a restaurant in it. They would rent the building to her. What would be the best way to finance this purchase from a tax point of view? They are thinking of using the company cash balance for this purchase.
What would you recommend?
Anything else to be aware of?

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Asked on 10 March 2015 2:54 pm