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International Inheritance

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  • 18-03-2015 9:37am
    #1
    Blue Steel
    Registered Users Posts: 64 ✭✭


    Sadly my mother has passed away. Now I have to deal with the administrative tasks.
    To be short and clear:

    - my mother was citizen of France and resident of France
    - I am citizen of France and resident of Ireland

    I have hired a solicitor in France to deal with this though I am not yet convinced how competent he is with the present question I have.

    Question/problem: I am unclear how "cross countries" taxation is gonna work and if there is room to manoeuvre within legal boundaries of course (I don't want to be taxed twice).

    - will I be taxed twice?
    - any advice?

    Cheers
    Tagged:


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    #2
    Pro Hoc Vice
    Closed Accounts Posts: 6,087 ✭✭✭Pro Hoc Vice


    http://www.revenue.ie/en/tax/cat/guide/double-taxation.html

    The credit granted is the lesser of -
    the amount of gift/inheritance tax (CAT) payable on the foreign property or
    the amount of foreign tax on the foreign property


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    #3
    Blue Steel
    Registered Users Posts: 64 ✭✭Blue Steel


    Pro Hoc Vice wrote: »
    The credit granted is the lesser of -
    the amount of gift/inheritance tax (CAT) payable on the foreign property or
    the amount of foreign tax on the foreign property

    - Is there a form somewhere I have to fill in?
    - The article mentions property, what about other assets: money in bank, life insurance (which are going to be taxed in France).


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    #4
    Pro Hoc Vice
    Closed Accounts Posts: 6,087 ✭✭✭Pro Hoc Vice


    Blue Steel wrote: »
    - Is there a form somewhere I have to fill in?
    - The article mentions property, what about other assets: money in bank, life insurance (which are going to be taxed in France).

    You would need to speak to lawyer and or accountant in France.


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    #5
    Mr. Incognito
    Registered Users Posts: 9,798 ✭✭✭Mr. Incognito


    If you have hired a lawyer let them deal with it.

    Would you hire a plumber and then install the sink yourself?

    There are relieving provisions under Double taxation agreements but these should be left to professionals to file a return as it depends on the type of income which country has primary taxing and which country has secondary taxing rights.

    If the lawyer does not have the requisite tax experience- and most don't unfortunately you can hire a tax advisor to handle the taxation set off element and let them assist the lawyer.


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    #6
    Blue Steel
    Registered Users Posts: 64 ✭✭Blue Steel


    Mr. Incognito wrote: »
    If you have hired a lawyer let them deal with it.

    Would you hire a plumber and then install the sink yourself?

    There are relieving provisions under Double taxation agreements but these should be left to professionals to file a return as it depends on the type of income which country has primary taxing and which country has secondary taxing rights.

    If the lawyer does not have the requisite tax experience- and most don't unfortunately you can hire a tax advisor to handle the taxation set off element and let them assist the lawyer.


    Unfortunately my French lawyer said that tax has to be paid in the country of the deceased (Fr) and that I would need to speak to Revenue in Ireland to deal with further taxation.


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    #7
    Mr. Incognito
    Registered Users Posts: 9,798 ✭✭✭Mr. Incognito


    If your mother was resident in France she will have to extract a grant of probate there and pay tax.

    If she has any Irish Assets the French lawyer will have to hire an Irish lawyer to extract the grant here.

    If she has no Irish assets then you can take local tax advice as regards your Irish tax consequences


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    #8
    Marcusm
    Registered Users Posts: 10,222 ✭✭✭✭Marcusm


    Blue Steel wrote: »
    Unfortunately my French lawyer said that tax has to be paid in the country of the deceased (Fr) and that I would need to speak to Revenue in Ireland to deal with further taxation.

    OP: You will need to get some Irish tax advice once you have established a few more facts. If there is Irish property, you may also need Irish legal advice. If the property (whether real estate, financial assets, cash etc) was not Irish property and both you and your mother are domiciled outside of Ireland then it is likely that any inheritance would not be within the scope of Irish capital acquisitions tax. Whether you and/or she are Irish domiciled is something on which an Irish tax consultant could easily advise provided your circumstances are straightforwafrd (e.g. your later mother never lived in Ireland, you have been here for one or two years and intend to return to France in the future). If either of you have spent significant periods in Ireland or you intend to live here for the rest of your life, Irish tax is more likely to apply and an adviser will be very worthwhile.


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