Money inherited from family member in U.K.

[woods]

I recall reading somewhere where the exemption on tax on money inherited from abroad has been removed but I can no longer find the source of the info.
Can anyone point me in the right direction as I need to advise a friend who has been left some money by her sister in U.K.

 

[jpd]

Check the www.revenue.ie site. Inheritences from an estate in the UK are now treated the same as inheritences from an estate in Ireland.

Remember also that it is the recipient ie your frien d you is liable for inheritence tax in Ireland but in the UK the rules are different - it is the estate that is liable for the tax so there may be a liability to tax both here and in the UK. Not sure if one is offsetable against the other. would advise getting expert advice.

 

[Domo]

This is complex, as, as stated above, any UK Inheritance tax liability is paid by the Estate in the UK, whereas, in Ireland, the benificiary is liable to CAT. The set off of any double taxation can therefore become complex, unless there is no UK inheritance tax payable (if total of the Estate under UK exemption limit)