Aggregate Inheritance?

[alowemurphy]

Can someone help please.

My father inherited from an aunt a few years ago, to the threshold limit of inheritance for an aunt, so lets say he inherited €30k.

Now, he's just inherited €17k from a non-relative (brother-in-law, not blood related).

What I'm wondering is .....
* can he take a €3k gift off the €17k leaving it at €14k inheritance which is below the threshold? (the 3k been the amount that someone can gift you without having to pay anything on it.)
* As this is a new relative, and one that doesn't fall into the category of aunt/uncle, etc. does the 30k count towards this inheritance, and there-fore he has to pay tax on the full amount, and not just the 17k-15k allowance? Does the inheritance balance aggregate no matter what relative of category it comes from? I'm thinking not, as if you inherited from a non-relative first, then you'd have no tax to pay on the 15k, where-as if you inherited from a parent first, then all your inheritance limits might well be used up?

 

[Steven Barrett]

Each of the threshold brackets are separate, so the money he got from an auntie has no bearing on the money he got from a stranger.

On gifting the first €3,000, I have seen people argue that alright but haven't seen it in practice. Maybe some of the tax experts on here can tell you if the Revenue allow it.


Steven
www.bluewaterfp.ie