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Inheritance Tax Solicitors

Inheritance tax is charged on gifts or inheritances in Ireland.

Unlike other countries, Ireland places the tax liability on the beneficiary and not on the estate. As inheritance tax rates in Ireland are one of the highest in Europe, it is extremely important that you engage the services of a professional to ensure you manage your estate in a tax efficient manner in order to avail of any tax reliefs available which will limit the tax liability of the intended beneficiary. 

Our private client department has the creativity, intelligence, and knowledge of domestic Law to advise on even the most complex wealth, property, and asset structures.

What is the rate of inheritance tax in Ireland?

The current rate of Capital Acquisition Tax (CAT), also known as Inheritance Tax or Gift Tax, is 33% on all gifts or inheritances which exceed your tax free threshold.

Some inheritances or gifts are tax-free; there are three different thresholds depending on the relationship between the recipient and the donor, as follows:

Group A:  a tax-free threshold of €320,000 which applies where the beneficiary is a:

  • child (including an adopted child, stepchild and certain foster children), or a;
  • minor child of a deceased child of the disponer (donor), or a;
  • parent where they take an absolute inheritance following the child’s death in certain circumstances.

Group B:  a tax-free threshold of €32,500 which applies where the beneficiary is a:

  • parent where threshold A does not apply, or a;
  • brother or sister, or a;
  • nephew or niece, or a;
  • lineal ancestor or lineal descendant of the disponer.

Group C:  In all other cases the tax-free threshold is €16,250.

What do I have to pay CAT on?

The following can be subject to CAT:

  • property
  • vehicles
  • cash
  • stocks and shares
  • an interest-free loan
  • the right to live in a house for life

Inheritance tax is not payable on a gift or inheritance if it is:

  • given to you by your spouse or civil partner
  • the total is below the group threshold amount (when its value is added to previous gifts and inheritances in the same group).

Relief from inheritance tax

Inheritance and gift tax relief is available certain circumstances. Our solicitors will assist you in identifying any opportunities to avail of such reliefs and exemptions and will provide expert advice to you drafting your will in a tax efficient manner.

Why choose Lavelle Partners to assist you with estate planning, wills and probate matters?

  • We are a partner-led firm, meaning the partner you meet will manage your case and be available to you if you have any questions.
  • We have strong relationships with top Dublin-based wealth managers and accountants who we work closely with in providing you with tax and estate planning advices so that you can avail of the best tax planning measures to meet your requirements.
  • Jennifer Morrow has a Society of Trust and Estate Practitioners (STEP) Diploma.
  • Our Solicitors are approachable, solution based and pragmatic.  We will assess your situation objectively and create a tailored structure to meet your specific requirements.
  • We have a strong long-term client base who recommend us for our tailored advice, customer service and attention to detail. 

For further information regarding inheritance tax in Ireland, please contact Lavelle Partners in confidence on (01) 644 5800.

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