Capital Acquisitions Tax on Primary residence

S

shipibo

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A Chairde

My understanding is you can inherit a house tax free if you have been living at the address for the previous three years and do not have interests in another residential property.

Some questions I hope you can answer

How do you prove you have lived there for three years ?

I have heard (just talk) you need to produce three household bills for the full period of time in question.

Is this the situation for all relatives, or just direct relatives (Son, Daughter etc ..)

Do you still need to give valuation of property to revenue if this is the case (Pay auctioneer to write valuation letter)

Any other issues you feel relevant but I have missed, I would appreciate you pointing out
 
crumdub12 said:
How do you prove you have lived there for three years ?

I have heard (just talk) you need to produce three household bills for the full period of time in question.
Click to expand...

Generally speaking if Revenue have had you on record at that address for the period and you could (if requested) produce bank statements etc then I expect that would be acceptable.
I would have thought it pretty rare that a person living with their parents would have the bills in their own name!

crumdub12 said:
Is this the situation for all relatives, or just direct relatives (Son, Daughter etc ..)
Click to expand...

I'm pretty sure the exemption was originally brought in following a couple of cases, partly to protect gay partners from having to sell their home when their partner dies (trying to make the Zappone/Gilligan case go away), as well as a case in Dublin involving elderly sisters.
I don't think you have to be related at all.

There's also a rule about not selling the house for a period (I think 2 years) or there is a clawback.
 
Mrs Vimes


Thank you for response, I appreciate your time in answering my question
 
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