Capital Acquisitions Tax

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kfk

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Hi,
I will be lodging a ca24 form shortly with the probate office. My question is regarding the CAT/Inheritance tax. If I have the form lodged before the budget, will the current rates and thresholds apply (assuming that these change in the budget)?
TIA
kfk
 
My understanding (not a practising accountant however) is that the 'valuation date' (the date on which you become beneficially entitled to the assets under the terms of the will) determines the relevant group threshold (as well as your relationship to the deceased, of course).
 
Thanks for the reply. Would I be right in saying that I would not be beneficially entitled to the assets until a grant of probate is issued?
 
CAT - threshold & rates

The correct CAT threshold and rate to use in computing the CAT due on a gift or inheritance is dependant on the date of that gift/inheritance (not valuation date).

The date of the gift is usually the date in which the property passes or agreement is signed.

The date of an inheritance can be either:
1.
 
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