Capital Acquisitions Tax

Our skilled tax department offers a comprehensive compliance service including timely preparation and submission of Capital Acquisitions Tax returns. Our team will calculate your Capital Acquisitions Tax liability on gifts or inheritances received ensuring that you are in receipt of all the allowances and reliefs you are entitled to claim.

The following is a summary of the method of assessment to CAT:

Taxable Inheritance

A taxable inheritance arises in any of the following situations:

  • The disponer is resident or ordinarily resident in Ireland at the date of the diposition
  • The successor is Irish resident or ordinarily resident at the date of the inheritance
  • The property is located in Ireland at the date of the inheritance

Taxable Gift

A taxable gift arises in any of the following situations:

  • The disponer is resident or ordinarily resident in Ireland at the date of the disposition (not applicable to gifts under a discretionary trust)
  • Where a gift is taken under a discretionary trust, the disponer is resident or ordinarily resident in Ireland at the date of the disposition or the date of death (if the gift is taken after the death of the disponer)
  • The beneficiary is resident or ordinarily resident in Ireland  at the date of the gift
  • Provided the settlor or beneficiary is not Irish domiciled, he is not deemed to be resident until after 1 December 2004 and then only if he has been resident in Ireland for five consecutive years of assessment immediately before the year of assessment in which the gift is received and is also resident at the date of the gift

 

Book A Complimentary 30 Minute Consultation With One Of Our Tax Experts NOW

For assistance with your Capital Acquisitions Tax returns please contact a member of our team.

Jane Jackson, Tax Manager, Dundalk

Mairead Rooney, Tax Manager, Balbriggan

 

Jane Jackson – Tax Manager, Dundalk

Contact Jane For General Enquiries

 

Mairead Rooney – Tax Manager, Balbriggan

Contact Mairead today