Payment of CAT

R

Ryan

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A distant relative who is unmarried and has no children plans to leave me her home after her passing. I believe it’s likely to fall into group C for CAT which I reckon oils leave a bill of approx 60k. I couldn’t raise that money until the property has sold, would Revenue authorize a delay in payment until then? The house is in a fairly isolated location so I wouldn’t want to live there and for the same reason I think it might take a while to sell.
 
If you reduce the price, it will sell quicker - no matter where it is
 
Your relative may be able to organise things in such a way that you won't have a C.A.T. liability until the house is sold. I am always reluctant to involve beneficiaries in such discussions (when making a will) so don't expect to have any dialogue with her adviser. Howver, depending on the relationship, you might be comfortable mentioning this to your relative and she can check accordingly with her solicitor or other adviser.
 
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