Paying CAT when above inheritance threshold

R

Ronaldo9

Registered User
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Hi all

If someone is due to receive inheritance above a certain threshold (land & cash), can the CAT be paid with the cash you're due to receive? Or is it a case X receives land and cash but has to pay the inheritance tax prior to receiving anything?

Thanks in advance
 
Once you inherit and are over the threshold CAT is due on the amount over the threshold. There are two payment dates for CAT on inheritance 1st Jan to 31st August is due in October same year or inheritance in the latter period is 1st Sept to 31st Dec due the following October.... Whether you receive anything right now or not, once 80% and over of threshold is inherited, you are obliged to file and pay..... I am not sure about any rule of how you can or cannot pay it with, inherited cash, I'm sure revenue will accept payment but best to let someone else answer....
 
Money is money - you can pay with whatever you have, Revenue don't care or ask where the money you pay your taxes come from - all they care about is that you declare your income, gifts and inheritance correctly and pay any tax due in time
 
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