Tax on inheritance query

[AndroidMan]

Revenue site says the limit is €335k before being liable to CAT.

Is that limit the sum of all your inheritance that may arise from parents, siblings relatives etc over your lifetime?

Or is that limit per inheritance transaction?

So basically could somebody be in multiple wills for €335k and not pay CAT on any of them?

 

[Feemar5]

Rates below - can't be in multiple wills and not pay CAT!!!

Group A: €335,000	Applies where the beneficiary is a child (including adopted child, step-child and certain foster children) or minor child of a deceased child of the disponer. Parents also fall within this threshold where they take an inheritance of an absolute interest from a child.
Group B: €32,500	Applies where the beneficiary is a brother, sister, niece, nephew or lineal ancestor or lineal descendant of the disponer.
Group C: €16,250	Applies in all other cases.

 

[ClubMan]

It's the limit for all group A

Revenue site says the limit is €335k before being liable to CAT.

It's the maximum exemption for all group A capital acquisitions over the recipient's lifetime.

CAT groups and group thresholds

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

www.revenue.ie

Group thresholds

Each group has a tax-free threshold amount that apply from 7 December 2011.

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.

 

[ClubMan]

can't be in multiple wills and not pay CAT!!!

Yes you can - if the cumulative amount is less than the relevant CAT group tax exemption threshold.