Willed ~£100k by Aunt who lived/died in UK. UK inheritance tax, CAT? also IrishTax?

[BobM]

Hi

I am named in my aunt's will. She lived (and died) in England and I am due to inherit a share of her estate.

Would anyone know if that share is (1) subject to Inheritence or Capital Gains Tax in the UK and (2) if so, would it then be subject to any further taxes if/when the money is brought into Ireland.

I think my share will amount to approx. £100,000 before any taxes.

Thanks.

BobM

 

[Joe_90]

Check out http://www.hmrc.gov.uk/inheritancetax/tax-when-you-inherit.htm for the UK position.

If you are resident and domiciled in Ireland then the inheritance is subject to Capital Acquisitions Tax. The first €30,150 is exempt the balance is taxed at 33%
http://www.revenue.ie/en/tax/cat/thresholds.html
There may be relief for the uk tax depending on the nature of the benefit.

 

[BobM]

Many thanks Joe 90.