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UK Inheritance taxes

makfli · 2010-06-30 12:30:52

Just exploring the differences between UK and Irish inheritance tax liabilities. It seems the Irish tax situation is a 2% probate tax on the total value of the estate and then the individual beneficiaries legacies are taxed as income tax subject to tax free exemption limits which are determined by the relationship to the…

30-06-2010 12:30PM

#1

makfli

Registered Users, Registered Users 2 Posts: 157 ✭✭

Join Date: January 2007

Posts: 92

Just exploring the differences between UK and Irish inheritance tax liabilities. It seems the Irish tax situation is a 2% probate tax on the total value of the estate and then the individual beneficiaries legacies are taxed as income tax subject to tax free exemption limits which are determined by the relationship to the deceased .
UK situation seems to be a 40% tax on the value of the estate over £300k and the individual beneficiaries pay no tax ?

Grateful if someone could comment.
Thanks

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