Solicitor's fees as an expense when calculating CAT

W

Wally44

Registered User
Messages
2
My brother died and left his house to myself and my brother. The house is sold and I'm in the process of filing the CAT with revenue. I understand that I will be liable for tax at 33% after my threshold of €32,500. My query is are solicitor's fees for probating the will allowable as an expense along with funeral and headstone costs.
 
You can deduct funeral expenses and any debts owed by your late brother as well as legal expenses involved in probate. You can also claim €3000 - small gift tax so you get €35,500 before you pay tax.
 
Feemar5 said:
You can deduct funeral expenses and any debts owed by your late brother as well as legal expenses involved in probate. You can also claim €3000 - small gift tax so you get €35,500 before you pay tax.
Click to expand...

You cannot claim the €3,000 Small Gift Exemption. As the name suggests, it applies only in respect of gifts, not inheritances.
 
You must log in or register to reply here.
Back
Top