Inheritance tax rates

[cf1]

My uncle passed away in oct 2011 and left me his estate which is now in probate. When I was informed I was abeneficiary I remember checking online tax rates and am sure I seen that initial 33,000e (odd) was tax threshold but thought i remember seeingthat remainder was taxed at 16% - now can only see online that remainder is taxed at what was 25% now 30% - was i dreaming when I thought 16%?
Also, my uncles solicitor informed me months ago that tax rates/thresholds are determined by date of death but i seem to see conflicting evidence on line.
Anyone an y pointers / advice.
many thanks,
cf

 

[Deiseblue]

My uncle passed away in oct 2011 and left me his estate which is now in probate. When I was informed I was abeneficiary I remember checking online tax rates and am sure I seen that initial 33,000e (odd) was tax threshold but thought i remember seeingthat remainder was taxed at 16% - now can only see online that remainder is taxed at what was 25% now 30% - was i dreaming when I thought 16%?
Also, my uncles solicitor informed me months ago that tax rates/thresholds are determined by date of death but i seem to see conflicting evidence on line.
Anyone an y pointers / advice.
many thanks,
cf

Check out www.revenue.ie - under taxes & duties there is a plethora of information on Capital Acquisitions Tax ( another name for Inheritance Tax ).

 

[huskerdu]

There is quite a clear guide to Capital Acq. Tax here.

http://www.citizensinformation.ie/en/money_and_tax/tax/capital_taxes/capital_acquisitions_tax.html

The rate was 25% last year and is now 30%. I dont know where you read 16% but its not correct, not for the last number of years anyway.

 

[JJSefton]

The thresholds that apply, and the rates payable, are from the date of death. The valuation of the estate, and the date at which the tax is due, is from the date of probate. The rate of tax payable prior to the last budget was 25%.