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Capital Acquisitions Tax Help

John6008 · 2018-05-30 11:48:53

My uncle who raised me passed away and left me his home. It’s valued at 180k. I live abroad and am planning to return to make it my family home. I have read a few things online about CAT but I really don’t understand it fully. I’m worried that I will have to sell the house to pay the tax bill. Any help would be greatly…

30-05-2018 11:48am

#1

John6008

Closed Accounts Posts: 30 ✭

Join Date: August 2016

Posts: 21

My uncle who raised me passed away and left me his home. It’s valued at 180k. I live abroad and am planning to return to make it my family home. I have read a few things online about CAT but I really don’t understand it fully. I’m worried that I will have to sell the house to pay the tax bill. Any help would be greatly appreciated.

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Comments

#2 30-05-2018 3:22pm

Calahonda52

Registered Users, Registered Users 2 Posts: 12,881 ✭✭✭✭

Join Date: January 2015

Posts: 12018

(180-32.5= 147.5)k*33% = 48,675 in tax.

You could disclaim, iff you have not taken any benefit from it
https://www.revenue.ie/en/gains-gifts-and-inheritance/completing-your-gift-or-inheritance-tax-return-it38/what-is-a-disclaimer-of-benefit.aspx

“I can’t pay my staff or mortgage with instagram likes”.

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