byrnekbyrne
Registered User
- Messages
- 12
Hi folks
Take this hypothetical scenario
Person A living in relatives home for two years, relative passes away and wills house to person A, tax bill of 250000 is triggered, person A can only borrow/raise 125000 at a max to put against tax bill.
Can Revenue evict person A from the home if they cannot cover rest of tax bill, Person A would be willing to come to arrangement with Revenue but realistically would take a lifetime to pay off the difference.
Bottom line can Revenue evict someone for being unable to fully meet their inheritance tax bill?
Take this hypothetical scenario
Person A living in relatives home for two years, relative passes away and wills house to person A, tax bill of 250000 is triggered, person A can only borrow/raise 125000 at a max to put against tax bill.
Can Revenue evict person A from the home if they cannot cover rest of tax bill, Person A would be willing to come to arrangement with Revenue but realistically would take a lifetime to pay off the difference.
Bottom line can Revenue evict someone for being unable to fully meet their inheritance tax bill?