IT 38 Form

[misstealeaf]

Question on dates when filling in this form:

Date of gift/inheritnce- is this the date that the inheritance was physically paid over to me?
Valuation date- is this the date the probate was granted on?

The inheritance in question was monies from financial institutions only so the monies were only paid to the solicitor once teh grant of probate was produced so there was as delay of a couple of months between the grant of probate and the payment of the monies over to me.

Thanks for your help.

 

[Lady_Montrose]

Hi Misstealeaf, in response to your query, the date to put on the IT38 format with regards to date of Inheritance is the actual date of death of the person you inherited from. The same applies to the Valuation date they require, both are the actual date of death. Hope this helps you. Usually, it's the solicitor who files this particular form particularly if you have had to raise a Grant of Probate.

 

[Thirsty]

You'll find this has the most accurate information:
http://www.revenue.ie/en/tax/cat/leaflets/it39.html

Re Valuation Date:

"In the case of an Inheritance, the Valuation Date is normally the earliest of the following dates:

• the date the subject matter of the inheritance can be retained for the benefit of the beneficiary;
• the date it is actually retained for the benefit of the beneficiary;
• the date it is transferred or paid over to the beneficiary."