JACKIE MASTERSON

RBK

OPERATIONS We have wonderful IT support which made the transition to remote working seamless. However, the remote environment does present challenges in terms of onboarding new staff and embedding culture. I would like to see the discipline of shorter internal meetings and the enhanced interoffice collaboration Zoom has facilitated to continue.

Whilst we have managed to forge strong relationships with new clients over Zoom, I think the preference here will always be for an initial face-to-face meeting to make that personal connection. Often what is initially on the agenda is not what the meeting transpires to be about.

A number of clients have been the subject of or are availing of the buoyant M&A market, and related tax structuring and due diligence have been a key part of our work in recent months. With enhanced transfer pricing rules now in play, this has also been an area of increased focus. In terms of the Brexit impact, for many clients it has resulted in requirements to register for VAT in the UK.

TAX REFORM With the R&D tax credit, a good reform would be clarification that rent can be treated as qualifying expenditure. In terms of KEEP, I would recommend developing an agreed ‘safe harbour’ approach to share valuation, and creating liquidity in KEEP shares by allowing a company to buy back KEEP shares.

RETIREMENT RELIEF If the husband and wife are both involved in the business, it is important to carefully structure in time to maximise the relief for both. If transfers to family are envisaged and the business is worth in excess of €3m, effecting the transfer between the ages of 55 and 66 is key. If a third-party sale is ultimately on the horizon, clawback periods need to be factored in.

‘Our preference is for an initial face-to-face meeting’