Inheritance Tax non resident

bishops palace

I am a former Irish resident but am living and paying tax in the UK for more than ten years. Does anyone know if I require tax clearance from one or both countries if I am the beneficiary of an Irish estate? My benefit is circa €50k and I will be receiving it under my Irish PPS number and obviously paying the tax in Ireland. I would think that my UK tax number or tax affairs would therefore be irrelevant?

So grateful if anyone has any input on this, am a bit confused as to where I stand.

Cheers,
bishops palace

murphy30

You only need to obtain Capital Acquisitions Tax clearance in this jurisdiction. You will pay 20% CAT after your threshold amount is taken our. The threshold amount depends on your relationship to the disponer. e.g. if you received the gift from a parent, your exempt from CAT. If you received the gift from a third party unrelated or not and aunt/uncle/brother or sister, you will receive circa 45,000 tax free and you will pay 20% on the remainder.
Hope that answers your question.

bishops palace

Thanks that's perfect. So it's just the CG50 Release cert for Ireland I take it. That's what I figured.
Appreciate the help!

bishops palace

oops I meant the CA11 not CG50.

jnh

the above thresholds and analysis is wrong, look at revenue.ie under CAT thresholds for the correct thresholds. there is no CAT in the UK, there is however inheritance tax which may or may not apply depending on where the deceased is domiciled. this will generally fall on the deceased estate rather than the beneficiary of the gift (you).

you should consult a professional or the solicitor handling the estate may help you

Barracudaincork

CAT rate is now 25%

bishops palace

Thanks for that jnh, i'm familiar with the thresholds, the deceased was my brother and i'm not too worried about the tax itself. Awkward situation of dealing with the family and the executor tells me the solicitor said he needs my tax clearance from England. I thought this a bit strange so just doing a bit of homework before I go back to him.

Many thanks for the input

Mr. Incognito

Please read the charter re specific tax advice.

You have hired a solicitor. Please use him to manage your tax affairs. You will not get expert advice on boards nor can it be relied upon.

bishops palace

Mr. Incognito wrote: »

Please read the charter re specific tax advice.

You have hired a solicitor. Please use him to manage your tax affairs. You will not get expert advice on boards nor can it be relied upon.

I seemed to have overstepped the mark. I would never expect expert advice from here nor would i rely on it. I didn't think my thread sought specific tax advice. All I have taken of relevance from here is;

"You only need to obtain Capital Acquisitions Tax clearance in this jurisdiction".

I am a member of a professional body myself and take very seriously our code of ethics and I do realise that the above is merely someone's opinion. It was only intended to be a discussion to affirm my own thoughts.

I have read and fully understand the charter, apologies if it appeared as mis-use of boards.

Mr. Incognito

Just a friendly warning. Generic advice is fine but when you talk about your brother estate and getting tax clearance certs I just had to interject a warning.