paying tax on a money inheritance?

[pushkin123]

Must you pay tax on a money inheritance of just over 20,000 euro? not from a relative.
Thank you.

 

[Protocol]

The CAT does not depend on the form of the asset.

Cash, bonds, shares, land, etc, the form of the asset is not usually relevant.

The relationship is relevant.


Please read this:

Gift and Inheritance Tax (Capital Acquisitions Tax – CAT)

This page gives a general overview on CAT implications on gifts and inheritence.

www.revenue.ie

CAT groups and group thresholds

This page explains thresholds, rates and aggregation rules for calculating Capital Acquisitions Tax

www.revenue.ie

If the beneficiary has no relationship to the disponer, then category C applies.

Group thresholds​

Each group has a tax-free threshold amount. The threshold is cumulative and applies to the total taxable benefits you have received in that group. (You must include the taxable value of any previous gifts and inheritances received since 5 December 1991 in the same group.)

You only pay tax on the value of a gift or inheritance above the tax-free group threshold amount.

Applicable Tax -free thresholds since 7 December 2011

	Group A	Group B	Group C
On or after 9 October 2019	€335,000	€32,500	€16,250
10 October 2018 - 08 October 2019	€320,000	€32,500	€16,250
12 October 2016 - 09 October 2018	€310,000	€32,500	€16,250
14 October 2015 - 11 October 2016	€280,000	€30,150	€15,075
06 December 2012 - 13 October 2015	€225,000	€30,150	€15,075
07 December 2011 - 05 December 2012	€250,000	€33,500	€16,750