Inheritance/gift tax

[czechmate]

If a child has been gifted assets from her parents when the parents are still alive, but now wants to gift those assets back to her parents, is there tax payable on the transfer back to the parents?

 

[ClubMan]

If they exceed the relevant Gift Tax exemption threshold (or taken with other gifts in the same class prior to this mean that the relevant threshold is exceeded) then I presume so (i.e. the parents may have a tax liability):

[broken link removed]

 

[Iceman732]

In monetary terms how much are these assets worth? There may be a tax liability, according normal CAT rules. However, assuming there is no liability to capital gains tax here, you may be able to avoid CAT tax by your children transfering a small amount (€3000) to your wife and then transfering it back to you. There is no CAT between husband and wife. Provided the above is done correctly you can avoid CAT tax.