CAT Clearance certificate

P

paul.m.c.

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I understand that this cert is required before the sale of all property can proceed. Does anybody know the proceadure involved in obtaining same and how the revenue decide to issue the certificate. All replies welcomed.
 
A CAT clearance certificate is needed where there has been a death or voluntary disposition on title within the past 12 years- is this the case with you?

CAT clearance is obtained where the gift or inheritance does not exceed 80% of the threshold by simply applying for it with details of the value when gifted or inherited and copy documentation to support together with a CA11 or clearance form.

If the value exceeded 80% of the threshold, a return must be made.
 
A CAT return has been made several years ago regarding the real property in sale and other personal property (cash)The real Property was identified on the tax return and inheritance tax was paid at the time.
However there were several amended returns submitted to the revenue regarding other cash inherited,where valuation dates for inheritances were different (because the personal representatives of donor's estate paid me instalments of cash over different dates,) and an inheritance tax return was submitted at the time of each cash receipt. At the time this was not queried by revenue, as far as I am concerned all is in order, but I am afraid that requesting this clearance cert will result in revenue looking over my return with a fine tooth comb. Am I worrying needlessly , I mean is the main thing the fact that the house is mentioned on the return , and they can see this and that signifigant tax has bee paid. I am Irish resident.
 
Hi unregistered, I cant see what you are worrying about if a return was made for all inheritances/ or gifts- if there was a liability, the Revenue would have dealt with it at the time, surely?

Do you actually have a clearance certificate from the time? How long ago are we talking?
 
No, I dont have any certificate from the revenue. I believe the correct term is a CAT Discharge certificate, seeing as the property in question was subject to tax. This property was returned to the revenue several years ago. However I may have , in error, ommitted some assets not of signifigant value, or indeeeed the valuation dates may be disputed by the revenue which concerns me. I believe that regarding CAT the valuation date, when tax falls due, and interest on tax accrues, is ultimately a matter of agreement between revenue and taxpayer. I also understand, that if an unprompted voluntary disclosure is made to revenue regarding outstanding tax, they may mitigate the penalty, but the interest in non-negotiable. I am afraid to ask for a CAT for a property being sold (which was returned for tax) in case the revenue try to question my inital tax return. I think I will fully examine the last return and send in a new return if there is any omission.
 
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