U.K. Inheritance to Irish domiciled son

[landlord]

For tax planning purposes myself domiciled in Ireland and my UK domiciled father are trying to figure out what will happen to his estate regarding payment of the UK 40% tax on amounts exceeding 325,000 sterling and/or the Irish 33% tax on amounts exceeding €310,000. Which takes priority?


Separately we also have 2 jointly owned irish rental properties, of which we are both on the mortgage. He has expressed no interest in these and wishes to either gift them to me now or pass them to me in his estate. How will tax be paid on these properties?

Many thanks......

 

[landlord]

I guess as no one is able to help with this query I'm now looking for a recommendation for a financial advisor who is familiar with both Irish and UK tax/inheritance issues?? Thanks

 

[Marc]

I co-authored two articles for the magazine of the Society of Trust and Estate Practitioners (www.Step.ie) on this subject if you would like a copy.






Kind regards,

 

[hazelgreen]

I would appreciate a link to those articles. I am in a similar situation with regard to parent living in UK.

 

[landlord]

I would love a copy thank you. Should I private message you or are you willing to put it up here for everyone's benefit? Many thanks

 

[Marc]

These articles have been published in the Step journal so unfortunately I don't own the copyright.

However, if anyone would like to Message me, I can provide a copy of my notes.

I can also provide a UK will writing service to any Irish residents with U.K. Property/assets.

 

[elacsaplau]

I can also provide a UK will writing service to any Irish residents with U.K. Property/assets.

Just wondering if someone has a UK pension, is a UK will necessary and why/why not?