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Tax on will

  • 09-02-2011 12:47pm
    #1
    noel123ie
    Registered Users, Registered Users 2 Posts: 285 ✭✭


    Hi all

    Some advice on a tax issue I currently have would be great

    My mother passed away in November 2009 and left a property in a fixed trust for me my sister and brother.

    We were advised but just wanted to confirm that rate applicable for inheritance tax purposes will be rate as of November 2009 and not rate as applicable on date of sale. We were going to get 2nd opinion but I thought this was a great forum to post our question.

    As a side note the house is currently valued at 500-600,000 and we can either try and seill it now or hold off for 2-3 years and hope that property prices willl increase. You can see where tax rate appicable is very important as any raise in house price could be wiped out by tax hike.

    Thanks
    Noel


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