First Will CAT Query re NI

[Lone Star]

If a brother or parents who reside

in Northern Ireland ​

are beneficiaries of my estate - are they subject to other inheritances taxes there? If they were in the CAT threshold Group B and got the limit of 32,500 for example as it is in ROI - will they have tax to pay on that sum in NI?

If they for example got beyond the ROI limit - say 50K a head - firstly is it 33% to pay on the amount above the limit ie 17,500 or 33% on the whole lot? and also any additional CAT in NI?

Many thanks

 

[Marc]

.

 

[Lone Star]

I'm resident here in ROI over 10 years.
My assets all ROI (property and life policies)
Reasonable sum/value on my death and just wondered if the NI recipients would have to pay CAT in ROI and also in NI.
Thanks btw Marc.

 

[Vanessa]

I'm resident here in ROI over 10 years.
My assets all ROI (property and life policies)
Reasonable sum/value on my death and just wondered if the NI recipients would have to pay CAT in ROI and also in NI.
Thanks btw Marc.

Laymans opinion.

I understand that there is an agreement between the two Revenues. Residents of UK for example who inherit in Ireland pay the tax in Ireland. They should declare it to Her Majestys Revenue but are not liable to double taxation.

 

[john luc]

yes I have a family member living in the UK and is going to receive an inheritance here in the RIP. They applied for a revenue number so they will pay ROI tax before they take any funds out of the country.

 

[Gordon Gekko]

No, they will not be subject to UK inheritance tax.

It’s levied on the estate, not on the beneficiary. As you are Irish resident with Irish assets, Irish CAT will arise for them.

 

[Lone Star]

Many thanks to all responses.