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Time constraints inheritance tax from grandparent to parent to child??

  • 24-10-2017 9:13pm
    #1
    StarBright01
    Registered Users, Registered Users 2 Posts: 731 ✭✭✭


    If someone were to inherit a house from their parents is there a time limit as to how long they have to wait before gifting the same house to their own child?

    Presumably it’s done this way for inheritance tax reasons because if it was passed directly from grandparent to grandchild they would have to pay more inheritance tax.


Comments

  • #2
    scheister
    Registered Users, Registered Users 2 Posts: 1,312 ✭✭✭scheister


    StarBright01 wrote: »
    If someone were to inherit a house from their parents is there a time limit as to how long they have to wait before gifting the same house to their own child?

    Presumably it’s done this way for inheritance tax reasons because if it was passed directly from grandparent to grandchild they would have to pay more inheritance tax.

    look at gift splitting think it covers a two year period. It would not apply if you could show the two gifts were not related gifts


  • #3
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,686 ✭✭✭barneystinson


    Gift splitting is exactly that, GIFT splitting. If the property was INHERITED then gift splitting has no application.


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