Tax assistance from Westland Tax & Accountancy Ltd, Dublin, Ireland - Phone +353 (0) 86 8231823 for a no obligation meeting

Capital Acquisitions Tax

(Inheritance Tax, Gift Tax)

Capital Acquisitions Tax is the name given to the tax charged on a gift or on an inheritance.

What amount can an individual receive without paying Gift Tax or Inheritance Tax?

In general it is the relationship between the two parties that dictates the exempt amount as follows:

Group 1 Gift or Inheritance to Son/Daughter or minor child of Deceased child Tax Free amount is €310,000 for each Son or Daughter
Group 2 Other lineal ancestor - Brother, Sister or child of deceased brother or sister €32,500
Group 3 Others €16,250


Inheritance Tax payable depends on the relationship between the two parties - Inheritance Tax advice from Westland Tax & Accountancy Ltd., Dublin
Gifts and Inheritances that exceed the Threshold Amounts are subject to Capital Acquisitions Tax at 33%

The above are lifetime limits for each threshold. In addition there is an additional €3,000 gift exemption available each year.

As usual various terms and conditions apply and there are some circumstances where a different group will apply. You should always take professional advice.

Important information about Gifts

When you gift an asset, it is a disposal for Capital Gains Tax and may trigger a Capital Gains Tax liability. There may also be Stamp Duty on the transfer.

There are a number of reliefs available on gift tax such as