Dwelling house relief

Discussion in 'Wills, inheritances and gifts' started by Zelda1959, 20 Sep 2018.

  1. Zelda1959

    Zelda1959 Registered User

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    If I meet the criteria for dwelling relief except for the fact that I own 1/6 share of the property would I have to pay CAT?
    • you do not own, have an interest or a share in any other house, including one you acquired as part of the same inheritance
     
  2. Gordon Gekko

    Gordon Gekko Frequent Poster

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    No, you’d be fine.

    You can own a share of the property in question, just not a share in a different dwelling.
     
  3. Zelda1959

    Zelda1959 Registered User

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    Thanks but what does
    • including one you acquired as part of the same inheritance
    mean?
     
  4. Gordon Gekko

    Gordon Gekko Frequent Poster

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    It means that if I inherit a share of a house that I live in and also (say) an apartment as part of the same inheritance, I don’t get the relief.

    Although there was an interesting case recently around that very point, but the position has always been that simultaneous inheritance of two properties is a no-no.
     
    noproblem likes this.
  5. Zelda1959

    Zelda1959 Registered User

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    18
    Thank you so much. The clause is not very clear. I went to see my solicitor today and she admitted that she thought it could be the residential property not an additional one.
     
  6. Sophrosyne

    Sophrosyne Frequent Poster

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    The above, taken from the Revenue website, is badly worded leading to your confusion.

    The relevant clause in the CATC Act 2003, s86(3)(b) states:-

    “is not, at the date of the gift or at the date of the inheritance, beneficially entitled to any other dwelling-house or to any interest in any other dwelling-house,”

    That means having no beneficial interest in a dwelling house other than the one inherited.
     
  7. Zelda1959

    Zelda1959 Registered User

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    Thanks so much for clarifying.