Revenue Guidelines for Deed of Family Arrangement

Thesearcher · 1 May 2020

Hello, inquiring about wording in Revenue Guidelines for Deed of Family Arrangement.

"Where, within two years of death (or such longer period as the Revenue Commissioners may allow) the disposition of a property under a will or intestacy is varied by a deed of family arrangement or similar instrument, the deed is deemed to have retroactive effect from the date of death." - "The provision allowing the Revenue Commissioners to extend the period beyond two years is to cater for cases in which it is not possible for the beneficiaries to complete a deed of family arrangement within two years of death.This would occur for example where there is delay due to difficulty of proving title or where there is a large family with some members living abroad."

While not in revenues guidelines I read on a tax accountants site (but can't find it in revenue) "Where an application for an extension is made to the inspector on grounds which are considered reasonable, the inspector may grant an extension for a period which is not to exceed 12 months."

We are around 3.5 years since time of death, had title and other issues which delayed the sale. Can a deed of family arrangement be made at this stage, and if so, is it a straight forward arrangement if circumstances are explained and which fit the criteria i.e. Are Revenue flexible on the length of time where a case is made outlining genuine circumstances?

https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-19/19-03-09.pdf

Revenue Guidelines for Deed of Family Arrangement

Thesearcher

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