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Gift & Inheritance Taxes


(Capital Acquisition Tax)

Where a gift or inheritance -

- is received by an Irish tax resident,    or

- is given by an Irish tax resident,          or

- consistsof property in Ireland 

then Irish Capital Acquisition Tax (CAT) is payable at a rate of 20% of the value of the gift or inheritance. 

The tax is payable by the recipient of the gift/inheritance.

Exemptions

Depending on the relationship between the donor and donee, part of the gift/inheritance will be exempt from CAT. A general summary of the relationships/exemption limits is set out below:

Category            Relationship                                                  Exemption 

A                      Parent to Offspring                                          €495000

B                      Sibling to sibling                                              €49500                                   Aunt/Uncle to Niece/Nephew

                        Grandparents to grandchildren

C                     All others                                                         €28500

The above exemptions are lifelong (i.e. all gifts/inheritances within a category are cumulative and when the limit is reached CAT kicks in on amounts over the exemption levels).

Each taxpayer is also entitled to receive €3000 worth of gifts tax free each year. This exemption does not apply to inheritances.

All gifts/inheritances between spouses are exempt from CAT.

Disclaimer
The information on this website is for general guidance only.It is essential to take professional advice on specific issues about their impact on any individual or entity.No liability can be accepted for any errors or omissions or for any person acting or refraining from acting on the information provided on this site.