Dwelling House Relief

M

Mijne

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Hello

I lived with my mother in her house most of her life. For the last 10 years I looked after her while working. She died a couple of months ago and I am sorting out her affairs. In her will she left her house to me. My brother lives overseas and has no interest in it and he said it was my home. My brother and I bought a holiday house for family about 10 years ago, not in the Republic. We had no mortgage on it just bought it outright. We had it up for sale when my mother died. Unfortunately we could not sell it. Am I eligible for dwelling house relief? This is my home and I have no where else to live. House prices in Dublin have sky rocket ed so will I have to pay a huge amount of inheritance tax? It does seem unfair if it is my home. When my mother wrote her will, house prices were more normal prices. Has anyone any thoughts on this?

Thanks.

Mijne
 
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This is the list of reasons revenue have but it does not clarify if the half ownership of a house in another country counts. Sorry that it does not clarify this for you but if you contact revenue they should be able to give you an answer. If you do find out I would like to hear back from you.
 
Sorry for your loss.

You do not qualify for the exemption unfortunately. The rules are quite clear; you cannot have an interest in another dwelling, which you do. The location of that dwelling is not relevant.

How much is the family home worth? I’m asking in the context of the €310k threshold.
 
Last edited:
Gordon

Thank you for your condolences. It is awful when someone dies you have to think of the financial implications.

Unfortunately when my mother died in September the threshold was €280K, the €310K threshold did not come into effect until October.

The house is valued at €550,000. I will have a big bill.

I did spend the last couple of years looking after my mother at home. I left work with a small redundancy and as a result I did not qualify for carer's. When you are looking after someone elderly the last thing you are thinking about are house prices and inheritances.

Regards

Mijne
 
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