Elderly parent wants to give me 40K in Irish Shares. No previous gifts so I believe I will be under the gift threshold but parent will need to pay CGT. He does not have the money to pay it. I suppose I could pay it for him if I sold them.
I suspect the best route is if I inherit them. At that time I think I will be under the CAT thresholds. What will be our tax obligations ? I am actually on the share certs as a joint holder. If I transfer them to my sole name, will the Stamp duty return trigger an automatic CGT demand ? Any help out there on how to handle this ? Thanks.
I suspect the best route is if I inherit them. At that time I think I will be under the CAT thresholds. What will be our tax obligations ? I am actually on the share certs as a joint holder. If I transfer them to my sole name, will the Stamp duty return trigger an automatic CGT demand ? Any help out there on how to handle this ? Thanks.