What is inheritance tax?

Capital acquisitions tax is commonly called Inheritance Tax. It is a self-assessment tax, payable by the beneficiary on any gift or inheritance, received by the beneficiary from an Irish resident or ordinarily resident disponer or in other circumstances where the beneficiary is Irish resident or ordinarily resident. If the disponer and the beneficiary are both non-resident and not ordinarily resident CAT will be payable on Irish situate assets.

What is the current rate?

The current rate is 33%.

What are the  inheritance tax-free thresholds?

Group (a): A child (including foster child) of a deceased €310,000

Group (b): A parent, sibling, niece, nephew, grandparent,
grandchild, lineal ancestor or lineal descendant of the deceased €32,500

Group (c): Anyone else not covered in Groups (a) and (b) €16,250

When is it due to be paid?

Where the valuation date (usually the date of the Grant of Probate, but not always) falls between 1st September and 31st December, the pay and file deadline is 31st October of the following year.

Where the valuation date falls between 1st January and 31st August, the pay and file deadline is 31st October of that same year. See   Revenue for more information on the valuation date.

What if I got a previous inheritance or gift?

All receipts of gifts or inheritance within a specified group from the 5th December 1991 to date are aggregated when calculating any tax due.


If require legal advice please contact Madden Law