"Details of Prior Gifts" form for beneficiary

[Jeanmac]

Hi.
Reviewing previous threads on this matter, I am still a little confused on the following - is it a requirement to list the gifts under the 3K yearly limit in the above form?

Some posts indicate that revenue do not need to be informed at all, if the gift is under the 3K annual allowance, while others indicate that there is a link between it and inheritance.

So if gifts under the 3K yearly limit have previously received, is it a requirement to list these on the above declaration?

thanks in advance.

 

[David1234]

Hi Jean,

The gifts do not need to be declared if they are under €3,000 a year.

I was told before (and open to correction) that the revenue do not need to be notified unless the gift exceeds 80% of the current threshold for a specific group. e.g parent to child lifetime threshold is currently €320,000 so the revenue would not need to know in this instance if the gift amount is less than €256,000.