Hello,
The 2010 Finance Act makes this change to CAT:
"Abolition of the status of CAT as a charge on property that has been the subject of a gift or inheritance in the previous 12 years."
This apparently came into effect with the passing of the 2010 Finance Act.
My question is, does anyone know the enactment date?
The reason is, our family had begun a probate process at the beginning of this year, and we filed a tax return only recently with the Revenue which included tax calculated as expected to apply to a gift that happened within the last 12 years.
Revenue accepted our return, but probate hasn't gone through yet.
I wonder if we were in fact exempt from this tax, but didn't realize it, and need to re-file.
From what I have found online, the Finance Bill was signed on 4th of Feb and was supposed to be enacted before 9th of April.
So does anyone know what is the relevant date for the CAT change?
Thanks
The 2010 Finance Act makes this change to CAT:
"Abolition of the status of CAT as a charge on property that has been the subject of a gift or inheritance in the previous 12 years."
This apparently came into effect with the passing of the 2010 Finance Act.
My question is, does anyone know the enactment date?
The reason is, our family had begun a probate process at the beginning of this year, and we filed a tax return only recently with the Revenue which included tax calculated as expected to apply to a gift that happened within the last 12 years.
Revenue accepted our return, but probate hasn't gone through yet.
I wonder if we were in fact exempt from this tax, but didn't realize it, and need to re-file.
From what I have found online, the Finance Bill was signed on 4th of Feb and was supposed to be enacted before 9th of April.
So does anyone know what is the relevant date for the CAT change?
Thanks