CAT, GIFT TAX AND INHERITANCE QUESTION

[landlord]

How does CAT, Gift tax and inheritance tax apply if the doner is from the UK and the donee is an irish citizen. Is there info on the revenue website about this. I couldn't find anything. Thanks.....

 

[44brendan]

You are responsible for CAT not the donor. Same tax applies to you whether the disponer is resident or not resident in the State.

 

[Gordon Gekko]

Potentially UK tax for the UK estate. Potentially CAT for the recipient. Credit for one against the other.

 

[Bronte]

Of course there's information on the revenue website and on citizen's advice and presumably on UK revenue's site. Most of us wouldn't know about the UK, but firstly I imagine tax has to be paid there and this will be credited against any Irish liabilities.

Are we talking about a lot of money?

Because this is Ireland/UK most solicitors will surely have some experience of dealing with this situation, you need to find one of those, especially if the amount is large.