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Gift / Inheritance Tax

  • 03-03-2017 4:25pm
    #1
    parent2012
    Registered Users, Registered Users 2 Posts: 8 ✭


    Hi all, my query is with regard to gift tax (I hope I'm on the correct forum).

    My father is law, wishes to gift €50,000 to my husband. I'm aware of the parent to child limit €310,000 and a poster has kindly advised that we can avail of an annual exemption of €3000, without affecting the lifetime gift allowance. ie married couple with five children; €21,000 in year 1 and year 2 etc. is this the best option available to us


Comments

  • #2
    scheister
    Registered Users, Registered Users 2 Posts: 1,310 ✭✭✭scheister


    their is a 3k a year annual gift you can give some that is free from tax. So if your father in law gave your husband U and each of your children 3k this year and the same again next year that would be 42k give as a gift that would not affect the class A threshold of 310k. If your mother in law is alive she can give the 3k gift as well. that way the 42k would be paid in 1 year rather then 2


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