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Inheritance tax on house located in the Uk

  • 27-02-2019 11:53pm
    #1
    pkvader
    Registered Users, Registered Users 2 Posts: 329 ✭✭


    A family member has recently found out that he's been named in a will (along with 3 others) by a non relative in the UK.House left to 4 people,when the house is sold and each get their cut whats the story with tax?.Is inheritance tax paid here in Ireland or in the Uk?,and what is the tax rate?.Any info appreciated.


Comments

  • #2
    Geuze
    Registered Users, Registered Users 2 Posts: 14,137 ✭✭✭✭Geuze


    https://www.revenue.ie/en/gains-gifts-and-inheritance/index.aspx

    Irish CAT rate is 33%.


  • #3
    splinter65
    Registered Users, Registered Users 2 Posts: 9,420 ✭✭✭splinter65


    pkvader wrote: »
    A family member has recently found out that he's been named in a will (along with 3 others) by a non relative in the UK.House left to 4 people,when the house is sold and each get their cut whats the story with tax?.Is inheritance tax paid here in Ireland or in the Uk?,and what is the tax rate?.Any info appreciated.

    In this case your family member can have €16500 of his share tax free but will be paying 33c on the euro on the balance.
    He will have to declare it to Irish revenue.


  • #4
    pkvader
    Registered Users, Registered Users 2 Posts: 329 ✭✭pkvader


    splinter65 wrote: »
    pkvader wrote: »
    A family member has recently found out that he's been named in a will (along with 3 others) by a non relative in the UK.House left to 4 people,when the house is sold and each get their cut whats the story with tax?.Is inheritance tax paid here in Ireland or in the Uk?,and what is the tax rate?.Any info appreciated.

    In this case your family member can have €16500 of his share tax free but will be paying 33c on the euro on the balance.
    He will have to declare it to Irish revenue.
    Thanks


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