Beneficiaries living abroad

[scatriona]

Apologies if this has been covered, I tried to find a thread but couldn't find exact one.

For beneficiaries non resident in Ireland, how is the CAT tax taken from the sale of a house post probate? PPS no. has been provided but obvs no earnings in Ireland..
There's mention of Executors being on the hook for CAT but how is this in practice and how is CAT collected? Does/can the Probate solicitor take it at source before distribution of funds? What happens to executor if a beneficiary abroad doesn't pay the CAT?

thanks.

 

[T McGibney]

CGT or CAT?

Either way, you complete and file your tax return(s). You instruct your solicitor to pay over the liability sum(s) to Revenue. You or your solicitor can then apply for tax clearance to enable the solicitor to pay the net proceeds to you. Without this clearance, they cannot do so and your money will remain in the solicitor's account until this is resolved.

If this is too much for you to handle, you can hire an accountant to look after all this for you. Or the solicitor may be happy to do this for you as part of their service.

 

[MOB]

What happens to executor if a beneficiary abroad doesn't pay the CAT?

The Reveneue can send an assessment to the Executor, and the Executor will be liable.

 

[DannyBoyD]

Executor will be liable.

Exec can hold asset / cash which would otherwise be distributed to overseas beneficiary pending confirmation of settlement of tax due.

 

[scatriona]

Thanks all