I have a nice fat Inheritance Tax bill of around €40k to pay this year on or before 31st October.
Without wanting to go in to too much detail; I find myself asset rich but cash poor.
I can pay about 1/2 the amount in cash now and was wondering if Revenue will accept staged payments for the remainder?
I know ultimately the answer lies with Revenue, but I wondered if anyone else has been successful in making a case to have staged payments or would Revenue laugh me out of it?
Joe_90 - thanks so much for the leaflet - that's exactly what I needed. I can approach Revenue now with a plan.
Due to illness, borrowing just now isn't an option; next year things will be better (please God!). And yes I've checked (and double checked!) the amount due.
Update: have contacted Revenue and yes it's absolutely do-able. I have to complete the online filing, make my proposal and they'll send out a payment schedule. Yes, interest is payable and it's likely borrowing from the bank would be cheaper than (effectively) borrowing from the tax man, but it's a good solution for me at present.
Update: have contacted Revenue and yes it's absolutely do-able. I have to complete the online filing, make my proposal and they'll send out a payment schedule. Yes, interest is payable and it's likely borrowing from the bank would be cheaper than (effectively) borrowing from the tax man, but it's a good solution for me at present.