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Tax on Life Insurance.

Bytheway · 2009-10-08 11:10:49

In my research I have found that a life insurance lump sum is tax free to the beneficiary. So It must be declared as income but it isn't taxed. Can anyone confirm this. The relationship would have been from wife to husband.

08-10-2009 11:10am

#1

Bytheway

Registered Users, Registered Users 2 Posts: 110 ✭✭

Join Date: February 2008

Posts: 97

In my research I have found that a life insurance lump sum is tax free to the beneficiary. So It must be declared as income but it isn't taxed.
Can anyone confirm this. The relationship would have been from wife to husband.

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Comments

#2 09-10-2009 7:42pm

Bytheway

Registered Users, Registered Users 2 Posts: 110 ✭✭

Join Date: February 2008

Posts: 97

Anybody know

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#3 13-10-2009 6:48pm

Mr. Incognito

Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭

Join Date: March 2007

Posts: 9552

Surviving spouses are exempt

http://www.revenue.ie/en/tax/cat/leaflets/it41.pdf

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