Capital Acquisitions Tax - Prior inheritance received whilst living abroad

Myles de Selby

My partner has been named in an aunts will recently and needs to notify the revenue of previous inheritances. She received a small inheritance from an uncle about 6 years ago whilst living abroad. Does the fact that she was living abroad at the time of the inheritance have any bearing on its inclusion for the cumulative calculation in respect of the Category B tax limit?

Thank you

KCTK

Myles de Selby wrote: »

My partner has been named in an aunts will recently and needs to notify the revenue of previous inheritances. She received a small inheritance from an uncle about 6 years ago whilst living abroad. Does the fact that she was living abroad at the time of the inheritance have any bearing on its inclusion for the cumulative calculation in respect of the Category B tax limit?

Thank you

In short answer the previous inheritance will be taken into account, only way it will not is if both your partner and the late Uncle who left the inheritance 6 years ago were both non resident in Ireland at that time and it was not Irish property which was left to your partner. Remember category B threshold since last December has been reduced to €33k.

Myles de Selby

Many thanks. I thought that might be case. thank you for the the confirmation.