I have sold a property that I part inherited recently. There will be CAT to pay. Am I right in thinking that this tax is paid based on a simple mathematical equation.
Let's say I inherit €300k. I am allowed €225k allowance. So I pay tax on the €75k balance.
Can I offset anything against this tax? When I am left with my inheritance after I pay this tax is it likely that the Revenue will follow up and ask me what I have done with the balance?
Let's say I inherit €300k. I am allowed €225k allowance. So I pay tax on the €75k balance.
Can I offset anything against this tax? When I am left with my inheritance after I pay this tax is it likely that the Revenue will follow up and ask me what I have done with the balance?