UK Resident inheriting Irish estate

[Blueboyblue]

Hi, my uncle was was born & raised in Ireland but lived in Northern Ireland during the second half of his life.. He had no wife or children. He had property in both Ireland and Northern Ireland. He left me both his estates through a will. His solicitor in the north is executioner. UK probate didn't take long and property in north was sold pretty quickly, however the solicitor is holding the money until the estate down south has been dealt with. They used an Irish solicitor in his home town. The Irish probate was applied for in Jan 23, probate office returned it to solicitor requesting an affidavit from solicitor in north which was sent and the probate sent off a second time start of August. Its now December and still nothing, just have to bide my time which is really frustrating considering the northern solicitor is holding money that i cant access. Just a few questions;
1. As a UK resident will i have to pay tax on the estate down south when its sold?
2. Does the longer a probate takes the more money will be owed to Irish solicitor in fees?
3. Roughly how long does the process to sell land in Ireland take?
3. Will i need to setup an Irish bank account to receive any inheritance money?

 

[DannyBoyD]

IANAL

1. Yes, most likely; though it depends on the value of the inheritance.

2. Not sure what you mean here.

3. Piece of string, sorry.

4. No.

 

[Blueboyblue]

IANAL

1. Yes, most likely; though it depends on the value of the inheritance.

2. Not sure what you mean here.

3. Piece of string, sorry.

4. No.

1. 200k+
2. Will the solicitor accrue fees during the length of time it takes to get probate and the land sold. Im new to all this, i dont know what the southern solicitor will bill me for.

Thank you for your reply much appreciated

 

[DannyBoyD]

Yes you'll have to pay inheritance tax on that amount; I dont recall the threshold figures off the top of my head, but you'll find it on revenue.ie

Solicitor fees are based (or should be based) on the work done. Its not like a taxi running a meter.

 

[elcato]

IAalsoNAL; Where was he domiciled ? I presume the UK in this case so the whole procedure I would have thought should have been dealt with there. But maybe NI and Da Republic have a special case ruling on this ?

 

[Brendan Burgess]

His solicitor in the north is executioner.

Was he convicted and jailed for this?

 

[Brendan Burgess]

You need very specialised tax advice on this.

Someone who understands the tax situation in both jurisdictions.

Don't rely on online advice or even the advice of a small firm of solicitors.

Brendan

 

[DannyBoyD]

I was an exec for an ROI estate where a beneficiary was UK resident; they had to get PPS number & pay Irish inheritance tax.

So I'm reasonable confident the OP will have to pay tax, all other things being equal.

IANAL

 

[Blueboyblue]

IAalsoNAL; Where was he domiciled ? I presume the UK in this case so the whole procedure I would have thought should have been dealt with there. But maybe NI and Da Republic have a special case ruling on this ?

Domiciled in NI. The estate in NI was settled pretty quickly in 2020. Money from NI estate being held until Irish estate has been settled. Irish solicitor appointed for probate and sale of estate. The reason I'm asking these questions is because the Irish solicitor will only answer to the NI solicitor (who is clean useless)

 

[elcato]

The estate in NI was settled pretty quickly in 2020.

But you can only have one estate to leave. Is it a case that the NI solicitor is waiting on the sale in the Republic so he can finalise the hand out of the estate ?

 

[Blueboyblue]

But you can only have one estate to leave. Is it a case that the NI solicitor is waiting on the sale in the Republic so he can finalise the hand out of the estate ?

Correct. The NI solicitor is the executor of the will. He has been holding the money from the sale of property etc in NI until Irish solicitor finalises probate and sells land down south. My uncle was domiciled in NI. Would the money from sale of land down south be liable to CAT if its being transfered to the NI solicitor?

 

[elcato]

Would the money from sale of land down south be liable to CAT if its being transfered to the NI solicitor?

My understanding is you pay tax where you are domiciled and I believe it is the UK in this instance, so no.
BUT the property down south will most likely be due Capital Gains Tax. The NI solicitor will then lump north and south amounts together and the estate will be taxed on anything above 325k @ 40% as per UK tax law.
IAstillNAL