Malcomson Law on LinkedIn   Malcomson Law on Facebook   Malcomson Law on Twitter   Malcomson Law on YouTube   Malcomson Law Blog   Malcomson Law on Google Plus     Contact Malcomson Law

 

headway logo                                                 Subscribe to our Newsletter

 

 

 

 Charity 2017  

What is Inheritance Tax?

Inheritance Tax arises where you (the beneficiary) receive an inheritance as a result of someone dying. The beneficiary is liable for paying tax if the inheritance is over a certain limit or threshold.  These thresholds are calculated subject to the relationship between the disponer (the person providing the inheritance) and the beneficiary. This tax is known as Capital Acquisition Tax (CAT).
 

The inheritance (benefit) is taxed if its value exceeds the threshold limits. There are also different tax-free thresholds, depending on the relationship between the disponer and the beneficiary. If you are the recipient of an inheritance from your spouse or civil partner, you are exempt from CAT.

There are also a number of exemptions and reliefs that depend on the type of  inheritance. The tax applies to all property that is owned in Ireland by the disponer. If the property is not located in Ireland but the person giving the benefit or the person receiving it are ordinarily resident in Ireland for tax purposes, then the tax applies.


Thresholds for Inheritance/Capital as of 01/01/2015.

 

 

Group

    

 

 

Relationship 

to Disponer



Group Threshold

from 

01/01/2015

to 13/10/2015

Group Threshold

from

14/10/2015

to 11/10/2016

Group Threshold

from

12/10/2016

onwards

A

Son/Daughter

 €225,000

€280,000

 €310,000
B

Parent*/Brother/Sister/
Niece/Nephew/Grandchild
 

 €30,150  €30,150  €32,500
C

Relationship other than

Group A or B 

 €15,075  €15,075  €16,250


This area of law is complex and there are numerous issues to be considered. If you would like to set up a consultation with a solicitor experienced in this area of law please phone us at 01 8744 422 or fill in our online inquiry form and a Client Care Executive will be in contact with you. Our Client Care Executive’s are non-lawyers with a considerable track record of helping people with legal issues. They will also organise an appointment with an experienced solicitor.

 
If you would like to receive legal updates on topics relevant to you click here to subscribe.
subscribe
 


Useful Links

Revenue Guide to Inheritance Tax.


What We Do

Solicitors for Medical Negligence

Solicitors for Medical Devices and Consumer Products Recallss

Solicitors for Hep C and HIV Compensation Tribunal

Solicitors for Coroners and Inquests

Solicitors for Personal Injury

Solicitors for Workplace Injuries and Illness

Solicitors for Employment Law

Solicitors for Will Disputes and Probate

Commercial and General Litigation

What can we do for you?

Fields marked with red are required