Dwelling House Relief

[Lord Rossmore]

If someone inherits a house and a small piece of land attached, and satisfy the criteria for Dwelling House Relief, does that only apply to the house itself. My understanding is that they are exempt from CAT and CGT in the event of a future sale (6 years or more after), what if they sold both together, I assume that only house value part is exempt ?

 

[AAAContributor]

If someone inherits a house and a small piece of land attached, and satisfy the criteria for Dwelling House Relief, does that only apply to the house itself.

What acreage?

'Dwelling house' refers to the house and an adjoining area ("curtilage") of up to 0.4047 hectares (1 acre).

https://www.revenue.ie/en/tax-professionals/tdm/capital-acquisitions-tax/cat-part24.pdf

 

[Lord Rossmore]

What acreage?

'Dwelling house' refers to the house and an adjoining area ("curtilage") of up to 0.4047 hectares (1 acre).

Its part of an old farm. There are some gardens and outhouses, sheds around the house. Then there are about 8 acres of grazing grass land ajoining

 

[AAAContributor]

Its part of an old farm

Have you looked into Agricultural Relief to see if it is relevant to the situation?

What are the conditions for Agricultural Relief?

This page explains the requirements for relief from CAT on a gift or inheritance of agricultural land or property

www.revenue.ie