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Inheritance tax - when to pay

  • 28-11-2013 1:27pm
    #1
    femur61
    Registered Users, Registered Users 2 Posts: 1,588 ✭✭✭


    My father passed away Nov 2012, the land was valued in March 2013 and probate has just been granted but no money has been dispersed yet.

    I did look at Revenue website but could could someone explain to me in plain English, when has tax to be paid. Am I correct that it is Oct after the date of valuation of land and not when Probate had been granted?

    If that is the case it should be paid now even though no money has been dispersed.


Comments

  • #2
    dogsears
    Registered Users, Registered Users 2 Posts: 535 ✭✭✭dogsears


    Almost certainly going to be next October ie 2014. Valuation date in this context has a particular meaning and in your circumstances probably means the date of probate. If that's only just through, then the payment date is next October. The Solicitor acting will be able to confirm very easily.


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