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Inheritance Tax / Right of Residence

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  • 11-11-2014 1:10pm
    #1
    rojo09
    Registered Users Posts: 2 ✭


    I have to pay inheritance tax on a property left to me by my late Uncle. My other Uncle has a Right of Residence in the property. I mistook this for Life Interest and sent the forms back to tax office, but the forms have been returned to me as this is a Right of Residence. Can anyone tell me how i calculate the tax to be paid through Right of Residency, there is a formula on the revenue website which is very confusing. The house is valued at approx. €100k, no rent paid by Uncle, and he is 75 years old (his age is factored in the formula ??). the rental market value would be €800 per month approx. All advice welcomed. Thanks, Ro
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