Taxes in Europe Database v2
Capital Acquisitions Tax Consolidation Act, 2003, as amended by subsequent Finance Acts.
Republic of Ireland
The donee/successor is primarily accountable for the payment of the tax. Should the person primarily accountable fail to pay the tax, secondary accountability to pay rests with every trustee, personal representative, agent or other person in whose care any property comprised in the gift/inheritance is placed.
Gifts and inheritances taken by a donee/successor from any disponer.
In relation to gifts:
the taxable gift consists of the whole of the property taken by the donee.
In any other case, only the property situated in the State is liable to tax.
In relation to inheritances:
the taxable inheritance consists of the whole of the property taken by the successor.
A foreign domiciled person will not be considered to be resident or ordinarily resident in the State until 1 December 2004 and then only if he or she has been resident in the State for 5 consecutive tax years preceding the date of the gift or inheritance.
In general, the taxable value of property comprised in a taxable gift or inheritance is its market value, after the deduction of liabilities, costs and expenses. Rules are provided for valuing limited interests.
The tax chargeable on the taxable value of the most recent taxable gift or taxable inheritance taken by a beneficiary is as follows:
The group tax-free thresholds from 1 January 2010 to date are shown below.
Relationship to Disponer
Tax Free Threshold 1/1/2010 to 7/12/2010
Tax Free Threshold 8/12/2010 to 6/12/2011
Tax Free Threshold 7/12/2011 to 5/12/2012
Tax Free Threshold 6/12/2012
From 08/04/2009 to 6/12/2011: 25% on amount in excess of applicable group tax free threshold.
From 7/12/2011 to 5/12/2012: 30% on amount in excess of applicable group tax free threshold.
From 6/12/2012: 33% on amount in excess of applicable group tax free threshold.
For 2011, 30 September 2011 in respect of gifts/inheritances with a valuation date in the period 1 September 2010 to 31 August 2011.
For 2012 onwards, 31 October in respect of gifts/inheritances with a valuation date in the 12 months ending on the preceding 31 August.
Tax to accompany a mandatory self‑assessment of tax made by the taxpayer.