Over Borrowed Professionals
We have succesfully completed several tax efficient bank restructures for
over-borrowed individuals and companies.
The properties involved are usually investment properties or business premises.
- Individuals trading successully & paying tax at top rate.
- Negative equity in respect of property investments
- Property, loans & business restructured through a company and sometimes combined with a bank write-off.
Property owned by individual
- Value €1 million
- Borrowings €1 million
- Individual cannot meet loan repayments out of after tax income.
- Individual transfers property & their business into a company
- Company pays individual in return for the transfer
- Company obtains new bank loan
- Individual pays off old bank loan
Potential tax saving over time is €850k