Inheritance tax on land

liam00

Hi
I've inherited 70 acres from my dad and when mum's passes will inherit another 70 and house worth 400k.what kind of tax bill am I looking at. I have his tax bill of 116k to settle too. He left shares worth 300k to mum to cover tax and her expenses.

Geuze

https://www.revenue.ie/en/gains-gifts-and-inheritance/cat-thresholds-rates-and-aggregation-rules/index.aspx


Farming relief:

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

IRtax

If you have an accountant please go to them or if you don’t look for a good reputable one,

There is a lot to consider and look at here and the figures are in 100k so worth spending on a good accountant.

liam00 wrote: »

Hi
I've inherited 70 acres from my dad and when mum's passes will inherit another 70 and house worth 400k.what kind of tax bill am I looking at. I have his tax bill of 116k to settle too. He left shares worth 300k to mum to cover tax and her expenses.