Another Capital Acquisition Tax Question

KurtVon · 13-05-2021 7:58pm #1

Hello.

My wife and I live in the UK, I am originally from Ireland. Following the death of her uncle in Ireland, my wife is due to complete a form of confirmation for the Revenue Commissioner. I am puzzled by one of the questions. They are asking if she has ever received any other gifts or inheritance since 1991.

Does this include details of an inheritance that she received outside of Ireland? She did receive money in the UK following her mother’s death. Her mother was born in Ireland but lived in the UK for most of her life.

Does this have to be declared or are they only asking about any inheritances under Irish taxation?

DmanDmythDledge · 13-05-2021 9:04pm

It would only apply to gifts and inheritances that were subject to Irish CAT. The reason for the date is to determine what amount of the relevant CAT thresholds are remaining.

KurtVon · 13-05-2021 9:30pm

Thanks very much. That’s really helpful to us.

Will Yam · 21-05-2021 3:19pm

KurtVon wrote: »

Thanks very much. That’s really helpful to us.

You might just check about the money which came after your mother’s death. If this was as a result of a property being sold and cash being disbursed it might impact on the current situation. If it was just straightforward cask you’re ok.

Another Capital Acquisition Tax Question

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