Confidential Information Request for Companies Tax Advisers Concerning the Revised Entrepreneur Relief

Confidential Background Details

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* 1. Name of Practice:

Impact of Relief

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* 2. Based on your own experience, how important or otherwise was the Entrepreneur Relief in terms of the following factors:

	Very Important	Important	Of Minor Importance	Not At All Important	Don't Know
Influencing decision to sell shares/assets in Irish business	Influencing decision to sell shares/assets in Irish business Very Important	Influencing decision to sell shares/assets in Irish business Important	Influencing decision to sell shares/assets in Irish business Of Minor Importance	Influencing decision to sell shares/assets in Irish business Not At All Important	Influencing decision to sell shares/assets in Irish business Don't Know
Influencing the timing of disposal of shares/assets	Influencing the timing of disposal of shares/assets Very Important	Influencing the timing of disposal of shares/assets Important	Influencing the timing of disposal of shares/assets Of Minor Importance	Influencing the timing of disposal of shares/assets Not At All Important	Influencing the timing of disposal of shares/assets Don't Know
Encouraging start up of new businesses	Encouraging start up of new businesses Very Important	Encouraging start up of new businesses Important	Encouraging start up of new businesses Of Minor Importance	Encouraging start up of new businesses Not At All Important	Encouraging start up of new businesses Don't Know
Encouraging investment in new companies	Encouraging investment in new companies Very Important	Encouraging investment in new companies Important	Encouraging investment in new companies Of Minor Importance	Encouraging investment in new companies Not At All Important	Encouraging investment in new companies Don't Know
Expansion of employment in Ireland	Expansion of employment in Ireland Very Important	Expansion of employment in Ireland Important	Expansion of employment in Ireland Of Minor Importance	Expansion of employment in Ireland Not At All Important	Expansion of employment in Ireland Don't Know
Encouraging clients to start business(s) or make investment in Irish companies	Encouraging clients to start business(s) or make investment in Irish companies Very Important	Encouraging clients to start business(s) or make investment in Irish companies Important	Encouraging clients to start business(s) or make investment in Irish companies Of Minor Importance	Encouraging clients to start business(s) or make investment in Irish companies Not At All Important	Encouraging clients to start business(s) or make investment in Irish companies Don't Know
Attraction of overseas investment to Irish companies	Attraction of overseas investment to Irish companies Very Important	Attraction of overseas investment to Irish companies Important	Attraction of overseas investment to Irish companies Of Minor Importance	Attraction of overseas investment to Irish companies Not At All Important	Attraction of overseas investment to Irish companies Don't Know
Assistance in facilitating exports from Ireland	Assistance in facilitating exports from Ireland Very Important	Assistance in facilitating exports from Ireland Important	Assistance in facilitating exports from Ireland Of Minor Importance	Assistance in facilitating exports from Ireland Not At All Important	Assistance in facilitating exports from Ireland Don't Know
Assistance in development of scale of Irish companies	Assistance in development of scale of Irish companies Very Important	Assistance in development of scale of Irish companies Important	Assistance in development of scale of Irish companies Of Minor Importance	Assistance in development of scale of Irish companies Not At All Important	Assistance in development of scale of Irish companies Don't Know
Other, please specify	Other, please specify Very Important	Other, please specify Important	Other, please specify Of Minor Importance	Other, please specify Not At All Important	Other, please specify Don't Know

Other (please specify)

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* 3. How important, or otherwise, do you think the Entrepreneur Relief in general has been in your clients' decisions to sell asset(s)/businesses?

Very Important

Important

Of Minor Importance

Not At All Important

Don't Know

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* 4. How important do you think the following motivations were in influencing your clients' decisions to sell the assets against which they have claimed Entrepreneur Relief?

	Very Important	Important	Of Minor Importance	Not At All Important	Don't Know
Planning to retire	Planning to retire Very Important	Planning to retire Important	Planning to retire Of Minor Importance	Planning to retire Not At All Important	Planning to retire Don't Know
Looking to invest in another business	Looking to invest in another business Very Important	Looking to invest in another business Important	Looking to invest in another business Of Minor Importance	Looking to invest in another business Not At All Important	Looking to invest in another business Don't Know
Looking to have the funds to set up a new business	Looking to have the funds to set up a new business Very Important	Looking to have the funds to set up a new business Important	Looking to have the funds to set up a new business Of Minor Importance	Looking to have the funds to set up a new business Not At All Important	Looking to have the funds to set up a new business Don't Know
Looking to have funds for personal expenditures	Looking to have funds for personal expenditures Very Important	Looking to have funds for personal expenditures Important	Looking to have funds for personal expenditures Of Minor Importance	Looking to have funds for personal expenditures Not At All Important	Looking to have funds for personal expenditures Don't Know
In order to reduce debts	In order to reduce debts Very Important	In order to reduce debts Important	In order to reduce debts Of Minor Importance	In order to reduce debts Not At All Important	In order to reduce debts Don't Know
In order to reduce tax	In order to reduce tax Very Important	In order to reduce tax Important	In order to reduce tax Of Minor Importance	In order to reduce tax Not At All Important	In order to reduce tax Don't Know
Other, please specify	Other, please specify Very Important	Other, please specify Important	Other, please specify Of Minor Importance	Other, please specify Not At All Important	Other, please specify Don't Know

Other (please specify)

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* 5. Please indicate what, in general, you think your clients would have been likely to do if Entrepreneur Relief was not available?

Would have proceeded with asset disposal

Would have delayed asset disposal

Would not have sold asset

Other (please specify)

Awareness of Entrepreneur Relief

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* 6. What do you think was the main source of information by which your clients became aware of their entitlement to claim the Entrepreneur Relief?

Revenue Commissioners Information

Budget Speeches/Department of Finance Information

Advice from Professional Practices

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* 7. Do you think that in general your clients were aware of the details of the Entrepreneur Relief prior to starting the business or making the investment against which they subsequently claimed the Entrepreneur Relief?

Yes

Don't Know

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* 8. In your judgement, how many of your clients received professional advice concerning the Entrepreneur Relief back when they decided to make their initial investment in their businesses?

All clients received advise on Relief prior to initial investment

Majority received advice on Relief prior to initial investment

Minority received advice on Relief prior to initial investment

None of clients received advice on Relief prior to initial investment

Don’t Know

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* 9. 9. For those clients who you think were likely to have been aware of the Relief prior to starting the business or making the investment against which they subsequently claimed the Relief, how important, or otherwise, do you think the Entrepreneur Relief was in their decision to invest in or establish their businesses?

Very Important

Important

Of Minor Importance

Not At All Important

Don't Know

Details of Reliefs in Other Countries

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* 10. Please provide any information on Reliefs on capital gains arising from the disposal by an individual of a business asset in other countries which you believe are relevant for this review. Please provide links or feel free to send material separately.

Other Comments

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* 11. Please indicate any other comments/views you may have of the Relief. We would, in particular, like you to give your views on the following issues:

1.       Is the CGT Revised Entrepreneurial Relief still relevant including in its current format?

2.       What has been the impact of the Relief?

3.       Is the Relief in its current format the most efficient way to address the policy objectives?

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* 12. Please also outline any views you have for changes in the Relief:

Use of CGT Retirement Relief

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* 13. Please indicate your judgement on how many of your clients who availed of Entrepreneur Relief also availed of CGT Retirement Relief?

None

Minority

Majority

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* 14. For the clients who did not avail of CGT Retirement Relief, what were the main reasons why this relief was not claimed:

Thank you very much for assisting in this confidential information request which will provide you with a direct input to policy. All individual responses from advisers will be treated as Strictly Confidential and will be only used on a non-attributed basis. However, if you are willing for us to quote and attribute any views/comments made please indicate accordingly.

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