Nope. Beneficiary's tax is not exec responsibility.Just charge them full CAT on their portion of the inheritance. If they have confidence the revenue have their details they can claim it back from revenue.
Not in my experience.Does all this paperwork apply when 'granny' leaves niece/nephew/grandchild a small item of jewellry or other item of sentimental value - assume no item worth more than E200.
But how would Revenue know that the taxpayer had no liability?The basic rule regarding the requirement to file an IT38 (crossing or previously having crossed 80% of the class threshold applicable to the inheritance or gift in question) is very clear and easy to understand.
Unless someone is likely to have crossed that, Revenue would merely be wasting their time devoting "sustained attention" to a taxpayer who has no liability.
I think the applicant certainly ought to be able to do this. But, in practice, are they? As I understand it, form SA2 must be completed and filed online. Is it possible that matters are set up so that, until the relevant field is populated with the required information, the system won't let you lodge the form? Revenue could justify this by pointing to the legislation, which requires the applicant to provide this information, and doesn't provide for an exception in cases where they haven't been able to obtain it.I believe Exec can proceed, making sure they have made every possible effort to obtain the details from the beneficiary(ies) and have documented that process.
It should be very easy to address this - If no detail of previous benefits is provided on Form SA2, the beneficiary should automatically receive one of the commonplace standard notifications to file an IT38 return.But how would Revenue know that the taxpayer had no liability?
Sounds like claptrap TBH.Just a follow up on this from probate help line themselves to the estate solicitor.
If a beneficiary hides behind the protection of GDPR and refuses to list previous gifts etc for the SA2 application, then a note highlighting this HAS to be sent in with the Sa2 application outlining that every effort was made by the estate solicitor to get the information.
This,then will almost definitely flag an audit for these beneficiaries by revenue as it looks like they're hiding something.
Thats basically it & once the PPSN is provided - Then revenue take it from there.
Well this is what revenue said so I don't know. They must also look at beneficiaries that have withheld info surely but seems no other way around this if beneficiaries won't cooperate.Sounds like claptrap TBH.
The most common Revenue audits in relation to CAT refer to big-ticket claims for Business and Agricultural Relief.
If the beneficiary cooperates to the point of filing a complete and truthful CAT Return, the issue is resolved.Well this is what revenue said so I don't know. They must also look at beneficiaries that have withheld info surely but seems no other way around this if beneficiaries won't cooperate.
Well yes absolutely but how does one make a beneficiary do that? You simply can'tIf the beneficiary cooperates to the point of filing a complete and truthful CAT Return, the issue is resolved.
I'm lost. It's not your job to do that.Well yes absolutely but how does one make a beneficiary do that? You simply can't
Oh apologies I took you up incorrectly.. I thought you meant getting the beneficiary to disclose truthfully for the SA2.I'm lost. It's not your job to do that.
Ref Post #25If a beneficiary .... refuses to list previous gifts etc for the SA2 application, then a note highlighting this HAS to be sent in with the Sa2 application outlining that every effort was made by the estate solicitor to get the information.
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