Documentation regarding inheritance from abroad?

Cumulus

Registered User
Messages
10
Earlier this year I received an inheritance. The amount is under the tax threshold and I am aware that I have to declare the inheritance in my 2023 tax return.

My question is: Presumably Revenue will want to see documentation of the origin of the funds received? If yes, what kind of documentation exactly?

I received the inheritance via direct bank transfer from Germany. The funds came directly out of my deceased mother's account and the bank transfer was initiated by the bank after receiving a copy of the will.
 
Earlier this year I received an inheritance. The amount is under the tax threshold and I am aware that I have to declare the inheritance in my 2023 tax return.
Are you sure that you do? Emphasis is mine.
A beneficiary must make a Self-Assessment Capital Acquisitions Tax (CAT) IT38 Return, if the taxable value of the gift or inheritance exceeds 80% of the relevant group threshold. You must include all other taxable gifts or inheritances taken from any source within the same group threshold, on or after 5 December 1991.
 
Last edited:
The amount is slightly more than 80% of the group threshold, therefore I have to file the IT38 return.
It looks like I can to do this online only and will have to see what requirements regarding documentation pop up in the process.
Would be nice to have my ducks in a row beforehand though.
 
The amount is slightly more than 80% of the group threshold, therefore I have to file the IT38 return.
It looks like I can to do this online only and will have to see what requirements regarding documentation pop up in the process.
Would be nice to have my ducks in a row beforehand though.
There are no requirements regarding submission of documentation. Put simply, it's a self-assessment system. Revenue therefore want your return but don't want any supporting evidence filed with it. If they need anything later to substantiate an entry on your return or for another purpose, they will contact you requesting it.
 
So, I have the form IT38S in front of me. One line reads:
"Place X in the appropriate box to indicate whether the property is Real Property [ ] and/or Other Property [ ]"
I looked at definitions online and "Other Property" includes stocks and bonds, but money is never mentioned. I inherited €€€ - does currency fall under "Other Property" or is it some other category altogether?
 
If you search revenue.ie for IT39 - its a guidance document for completing the IT38. I can't get the link to copy properly at the min
 
Does the Guide to completing Form IT38 (2003 edition) in the Further Guidance section here help at all?
I very much doubt that cash is considered either real or other property.

Edit: post crossed with @DannyBoyD's but we're both on the same track... ;)
 
Back
Top