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Inheritance tax/capital aquisitions tax

  • 11-08-2015 6:25pm
    #1
    Funnygirl123
    Registered Users, Registered Users 2 Posts: 2 ✭


    Guys just wondering if anyone has any advice a few years ago my dad passed away and I have to pay €50k in capital aquisitions tax, now I don't have this lying around and I had a large amount of debt to deal with too so I put my head in the sand and waited for the revenue to come calling but they haven't yet...

    So my dilemma is this should I contact them? And draw attention to the fact that I haven't paid? Or say nothing in the hope that due to some glitch they miss the tax liability? Surely they would have contacted me?

    Btw my tax liability was processed by an accountant so it was all done quite professionally (apart from my non payment of course )

    I'm having sleepless nights now worrying about it

    Is there anyway I could check my liability without drawing attention to myself?

    Hope someone can help


Comments

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


    Funnygirl123 wrote: »
    Guys just wondering if anyone has any advice a few years ago my dad passed away and I have to pay €50k in capital aquisitions tax, now I don't have this lying around and I had a large amount of debt to deal with too so I put my head in the sand and waited for the revenue to come calling but they haven't yet...

    So my dilemma is this should I contact them? And draw attention to the fact that I haven't paid? Or say nothing in the hope that due to some glitch they miss the tax liability? Surely they would have contacted me?

    Btw my tax liability was processed by an accountant so it was all done quite professionally (apart from my non payment of course )

    I'm having sleepless nights now worrying about it

    Is there anyway I could check my liability without drawing attention to myself?

    Hope someone can help

    I would urge you to consult a tax adviser. If you owe CAT of 50k you have a problem that is accumulating interest all the time. Payment may be difficult but you can't go on just hoping the Revenue won't pursue you. And above all you need to be able to sleep at night. If this issue is costing you sleep you have to deal with it head on.


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