Myself and my siblings have inherited the proceeds of a building that has to be sold from our Uncle.
This building is generating rental income. Tax returns are done annually on the rental income by the executor on behalf of the deceased since his death in 2007.
Last year the executor distributed €8000 to myself and my siblings from the rental income.
Do we need to declare this to the revenue and pay tax ?
(None of us have ever received monetary gifts from relatives. )
This building is generating rental income. Tax returns are done annually on the rental income by the executor on behalf of the deceased since his death in 2007.
Last year the executor distributed €8000 to myself and my siblings from the rental income.
Do we need to declare this to the revenue and pay tax ?
(None of us have ever received monetary gifts from relatives. )