Capital Acquisition Tax

 

Capital Acquisition Tax (CAT)

CAT comprises the following;

  • Gift Tax
  • Inheritance Tax
  • Discretionary Trust Tax

Gift Tax

Gift Tax is charged on taxable gifts taken other than on death


Inheritance Tax

Inheritance Tax is charged on taxable Inheritances taken on death

The current Rate of CAT is 33%. CAT is Taxed on the beneficiary of the gift/Inheritance.

In CAT there are different Group thresholds depending on the relationship between the person who is giving the gift/Inheritance to the beneficiary.

Any monies in excess of this threshold would be taxed at 33%


We want to assist you, if possible, in reducing your exposure to Capital Acquisition Tax. This is taxed on the beneficiary. The threshold is a life threshold so if the beneficiary receiving the gift/Inheritance were to receive future gifts/Inheritances from a person in the same group threshold they would be subject to the full CAT rate if their threshold was previously exceeded.

At Shelbourne Accountants we take a proactive rather than a reactive approach to Tax planning.

Estate planning is really important. Answer the following questions;
• Have you a Will?
• Have you looked at the Tax consequences of your Will?


If the answer to any of the above is No……you really need to meet us for a consultation. Remember CAT is a Tax on the beneficiary. Do you really want to be leaving a big Tax liability behind?
— Shelbourne Accountants

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Shelbourne Accountants

Chartered Certified Accountants

Dublin: +353 1 518 0518
Cork: +353 21 735 5747
Galway: +353 91 399 060
info@shelbourneaccountants.ie


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