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Potential Tax Liability on Joint Account

  • 10-07-2011 12:17pm
    #1
    Pixie001
    Registered Users, Registered Users 2 Posts: 103 ✭✭


    Hi, I am looking for some advice on a possible scenario.

    If a cohabiting couple have a joint account (the majority of the money was originally put into the account by party A). Party A, then passes away, and the will states that all assets are to be left to Party B. Is party B liable to any tax on the inheritance of the cash in this account given the fact that (1) they did not put the majority of the money into the account, and (2) that they are not married?

    I have looked on citizens information/revenue etc for the answer to the above scenario, but to no avail. If anyone has any advice as to other places to look, please let me know,

    Thanks


Comments

  • #2
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    This is specific tax advice and banned under the charter.

    However due to the fact that 1. It's probably small potatoes and 2. I'm sure you may find yourself in a difficult position I will PM you the correct treatment.

    Thread is closed and I will not be putting my advice in the public domain in case anyone else wanders over here and seeks to rely on it.


This discussion has been closed.
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