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Inheritance tax

  • 19-07-2025 10:54PM
    #1
    Darrenon91
    Registered Users, Registered Users 2 Posts: 375 ✭✭


    I think I originally posted this in wrong forum.

    My partner is being gifted her home house by her mother who is moving out to a smaller more managable apartment. The house hasn't been valued yet but my understanding is that she can receive 400k worth of assets tax free and should it be valued more, we are due to pay 33% above that, is that correct? Is there exceptions to this, we intend to stay here for good.

    We want to do extensive renovations also so we want to potentially take about another mortgage (we own and rent another property with a mortgage on it), is this even possible?

    To add to this, my partners Dad died when she was young and she received a death in service insurance payment. Is this considered a gift?



Comments

  • #2
    Firblog
    Registered Users, Registered Users 2 Posts: 2,240 ✭✭✭Firblog


    If she gifts you to the value of 20K (as an in-law, if married) I think it will save you 7K.

    I believe you can get a mortgage on another house, how much will depend on your income/outgoings etc..

    Dunno.



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