Making a return and paying Capital Acquisitions Tax

    • 4 posts
    July 26, 2022 11:09 AM EDT

    If you have received a gift or inheritance, then you are responsible for paying any Capital Acquisitions Tax that is due. If you are not resident in Ireland, you must get an agent who is resident in Ireland, such as a solicitor, to take responsibility for the payment of CAT.

    You must make a tax return if the total value of gifts and inheritances you have received in one of the groups, A, B or C, since 5 December 1991 is more than 80% of the tax-free threshold for that group.

    For example, if you received a gift of €20,000 from a brother and then an inheritance of €10,000 from a grandparent, both of these benefits would come under Group B and amount to a total of €30,000. The threshold for Group B is currently €32,500 and 80% of this is €26,000. Because the benefits you received exceed 80% of the tax-free threshold for Group B, you are required to make a tax return even though the total amount received is below the threshold.

    Ireland Inheritance Tax Calculator

    The inheritance tax Ireland calculator is designed to allow free online calculations for residents and non-residents who have or will receive inheritance in Ireland. The calculator allows quick inheritance tax calculations so that you can calculate the total Inheritance tax due in Ireland in 2022. This calculation provides you with two important pieces of financial information, the first is the amount of tax you owe on inheritance received in Ireland, the second is the net amount of inheritance received after tax. Once you have calculated the inheritance tax due, you can print the document or email the inheritance tax document to yourself for later reference.

    How to use the Ireland Inheritance Tax Calculator

    You can view the calculator inline or full screen. The inline view displays the calculator surrounded by the normal menus and links to other tools and supporting information. The full screen view removes or the unnecessary information so you can focus solely on using the Ireland Inheritance Tax Calculator. The following step-by-step guides to calculating inheritance tax online with the Ireland Inheritance Tax Calculator covers all the functions within the inheritance tax calculator

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