Hi all
My dad (living in England) is due to receive some inheritance (he is one of a few beneficiaries) from an aunt who lived in Ireland. We have the SA2 form which has been completed by a solicitor I believe, so have information on the value of the estate, PPSN’s and his previous threshold value (He is over the threshold already so will be paying tax on the full benefit received).
He does not want to pay an accountant to complete his IT38 so we have set up his account on ROS ready to submit. The valuation date falls in the year to 31/08/2021 so the deadline is in a few days. I believe we can complete the short IT38 (please correct me if I am wrong) as he cannot claim any reliefs, the estate is from one disponer, but I am unsure whether there are any conditions or restrictions, would this be obvious on the SA2?
The solicitors have said Revenue already have details of each persons benefit as at the date of death (from the SA2 I assume) but this does not include legal costs and outlays in administering the estate. The funds have not yet been received by the solicitor in full and they state Revenue will require an undertaking from them to confirm that “no distribution will be made to non-resident beneficiaries until such time as clearance issues in writing from the Revenue to release funds. Hence the return will be required to be made by the due date as set out in previous correspondence and any liability that may be due will be queried to be discharged before clearance will issue from Revenue”.
I think they aren’t being overly clear as they want him to use their services to complete his IT38. I think we will be able to complete the form, but one of the questions is the date of inheritance - I don’t know what to put here as it has not yet been received?
If we file the return before the deadline, will he need to pay the liability up front if he files for himself or can this be deducted from the estate?
Any advice is appreciated.
Thank you..
My dad (living in England) is due to receive some inheritance (he is one of a few beneficiaries) from an aunt who lived in Ireland. We have the SA2 form which has been completed by a solicitor I believe, so have information on the value of the estate, PPSN’s and his previous threshold value (He is over the threshold already so will be paying tax on the full benefit received).
He does not want to pay an accountant to complete his IT38 so we have set up his account on ROS ready to submit. The valuation date falls in the year to 31/08/2021 so the deadline is in a few days. I believe we can complete the short IT38 (please correct me if I am wrong) as he cannot claim any reliefs, the estate is from one disponer, but I am unsure whether there are any conditions or restrictions, would this be obvious on the SA2?
The solicitors have said Revenue already have details of each persons benefit as at the date of death (from the SA2 I assume) but this does not include legal costs and outlays in administering the estate. The funds have not yet been received by the solicitor in full and they state Revenue will require an undertaking from them to confirm that “no distribution will be made to non-resident beneficiaries until such time as clearance issues in writing from the Revenue to release funds. Hence the return will be required to be made by the due date as set out in previous correspondence and any liability that may be due will be queried to be discharged before clearance will issue from Revenue”.
I think they aren’t being overly clear as they want him to use their services to complete his IT38. I think we will be able to complete the form, but one of the questions is the date of inheritance - I don’t know what to put here as it has not yet been received?
If we file the return before the deadline, will he need to pay the liability up front if he files for himself or can this be deducted from the estate?
Any advice is appreciated.
Thank you..