Receiving inheritance from UK

CorkyP123

Hi, wondering how double taxation rules apply to inheritance from UK to an Irish resident and could anyone recommend best person to receive advice from on this? (Solicitor or tax adviser?)If the UK tax payable is less than the Irish tax, would you have to pay the excess in Ireland? Advice appreciated

SureYWouldntYa

You will get a credit in Ireland for any tax paid in the UK. If the amount paid in the UK is less than what is due in Ireland, you have to pay the balance, if it is more then you will have nothing more to pay in Ireland

Depending on the nature of the case your solicitor may be able to offer advice, they may have a tax advisor that they would delegate the more complex issues to, best thing is to talk to your solicitor

What is your relationship to the person who left you the inheritance?

You will have a CAT liability of 33% of the value of the inheritance less any tax free allowance depending on your relationship to the person (and any previous gifts or inheritances received).

Then you'll deduct whatever inheritance tax you pay in the UK, and pay the difference to Revenue.