Gift & Inheritances

Irish gift or inheritance tax is called Capital Acquisitions Tax or CAT and is primarily payable by the person receiving the benefit. CAT arises where a gift or inheritance is taken by or from a person living in Ireland, or in the form of an Irish asset such as land. There is a tax free threshold below which no tax is paid, but this can be eroded by prior benefits received since 5 December 1991. The threshold and CAT rates change from time to time and full details of the current and historic CAT tax free thresholds are set out below. The Finance Act 2010 contained a number of changes to the way in which CAT is administered and fuller details of the reporting and filing rules for CAT are also set out below.

O'Hanlon Tax Limited provides a comprehensive CAT management service including pre-death review of the tax implications of gifts and Wills, assistance in calculating CAT on gifts or inheritances, and filing returns, and support in dealing with Revenue in cases where taxpayers are selected for audit.