Are you sure that you do? Emphasis is mine.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.
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.
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.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.
i.e. not Real PropertyCash is legally considered " personal property " .
I think you mean not property in the sense of bricks & mortar.i.e. not Real Property
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