Am I correct in saying that the lifetime untaxed gift to another sibling is around €32k, that is a total of €32k odd that can be received from all siblings to the same sibling over a lifetime and not €32k per sibling ?
I have found various diverging views on this, my own being that if three siblings wish to gift inherited land valued at €50k per sibling ( total €150k ) from an inheritance to another sibling then cat payable would be €150k less annual exemption €3k less lifetime class B exemption of €32k odd leaving €115k taxed at 33%, I understand costs can be offset also but on a high level doesn't that sound right.
I have found various diverging views on this, my own being that if three siblings wish to gift inherited land valued at €50k per sibling ( total €150k ) from an inheritance to another sibling then cat payable would be €150k less annual exemption €3k less lifetime class B exemption of €32k odd leaving €115k taxed at 33%, I understand costs can be offset also but on a high level doesn't that sound right.