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Gift/Capital Acquisition Tax

noelfitz · 2014-07-21 19:15:03

If I made a gift of 350000 EURO to my son in 2008, is there a tax liability for him? I see that up to 7 April 2009 542544 EURO can be gifted without tax, so it seems there is no liability. Is this correct. Also is the value of my family home treated as part of my estate for Inheritance tax? Thus if my son is left my house…

21-07-2014 7:15pm

#1

noelfitz

Registered Users, Registered Users 2 Posts: 145 ✭✭

Join Date: July 2009

Posts: 79

If I made a gift of 350000 EURO to my son in 2008, is there a tax liability for him?
I see that up to 7 April 2009 542544 EURO can be gifted without tax, so it seems there is no liability. Is this correct.

Also is the value of my family home treated as part of my estate for Inheritance tax? Thus if my son is left my house worth say 400000 EURO is his tax due on this 33% 0f (400000 - 225000) EURO?

Or is there special treatment for the family home?

I would be very grateful for clarification.

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Comments

#2 21-07-2014 8:57pm

NoQuarter

Registered Users, Registered Users 2 Posts: 4,632 ✭✭✭

Join Date: August 2007

Posts: 4286

Ask in the tax section under "Biz".

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