Agriculture relief on land that was gifted 30 years ago.

[DalyFarm]

Good evening,

I would like to ask if a farmer who met the criteria for Agriculture Relief in 1995, can now apply for agriculture relief on land that she was gifted 30 years ago upon the passing of her parents?
Has anyone been in this situation?

Thanks,
D

 

[ClubMan]

Was a CAT return form IT38 filed on time claiming the relief at the time?

Capital Acquisitions Tax

Capital Acquisitions Tax (CAT) is a tax on gifts and inheritances. You can get a certain amount of gifts and inheritances without paying CAT, depending on your relationship to the person you get them from..

www.citizensinformation.ie

If you are claiming agricultural relief or business relief, you must make a return even if the benefit is less than 80% of the threshold.

In some circumstances, you may be required to submit a tax return if you are the person giving a gift.

Pay and file deadline

If the valuation date is between:

• 1 January and 31 August, you must file your return and pay by 31 October in that year
• 1 September and 31 December, you must file your return and pay by 31 October in the following year

 

[T McGibney]

The question as posed doesn't appear to make much sense.

Can you perhaps clarify it?

If someone is worried that Revenue are going to hunt them down or otherwise bother them on foot of their neglecting to claim a tax relief 30 years ago, they should stop worrying.

Otherwise, specific professional advice is recommended.

 

[Clamball]

On the death of the parents did the ownership transfer to the daughter occur. Is the farm currently in her name. Any tax should have been sorted on transfer of ownership.

 

[ClubMan]

The question as posed doesn't appear to make much sense.

That's true. E.g. this is confusing:

agriculture relief on land that she was gifted 30 years ago upon the passing of her parents?

Was it inherited from the parents (did they die at the same time?) or was it gifted (by someone else)?

 

[T McGibney]

I expect the former, but the above advice applies regardless - it's so long ago that nobody, anywhere will care what was done or not done.

 

[DalyFarm]

Many thanks for the contributions. It was gifted by both Parents 30 years ago who recently passed away in 2024/2025 and i am sorting stuff out now. I would rather pay the inheritance tax now , than the revenue coming back within 6 years and saying that i am not eligible and pushing me over the threshold and paying penalties on the tax that I could have paid.

 

[Clamball]

I think if you gave us some simple answers it would really help. I am sorry to hear that your parents died in such quick succession, it must be very difficult for you.

Did your parents transfer the ownership of the farm to you 30 years ago. Did ye use a solicitor to formally put your name on the folio as title. Have you been the farmer since, with you doing all the returns to revenue & the dept of ag, yearly, in your own name.

……………………………………………………………………….

Or, now that I re-read your original question, did your parents say 30 years ago, when we are both dead you will get the farm. Which then leads to the question, did your father die in 2024 and leave everything to your mother, who died in 2025 and has left everything to you? So there are two wills and you are now preparing for probate? If this is the case you will have to pass the farmer test now, not 30 years ago.