Gift / Inheritance Tax

Portion of taxable value of benefits	% (20/11/08 to 07/04/09)	% (From 08/04/09)	% (From 07/12/11)
The threshold amount	Nil	Nil	Nil
The balance	22	25	30

Notes1. The rates of inheritance tax and gift tax are applied by reference to the aggregate of all taxable inheritances and taxable gifts taken after 5th December 1991 by the beneficiary being taxed. Inheritances or gifts taken before 5th December 1991 are not aggregated in relation to inheritances or gifts taken on or after that date.

2. Tax rates were considerably higher for benefits taken prior to 1st December 1999 and differed between gifts and inheritances.

3. For the purpose of Gift and Inheritance Tax, the relationship between the person who provided the gift or inheritance (i.e. the Disponer) and the person who received the gift or inheritance (i.e. the beneficiary), determines the maximum tax free threshold – known as the “group threshold”.

4. For the new indexed threshold amounts, see table below.

Relationship to donor	Gift or inheritance in
	From 01/01/10 to 07/12/10 (€)	From 08/12/10 to 31/12/10 (€)	From 01/01/11 to 06/12/11 (€)	From 07/12/11 (€)
Son/Daughter	414,799	332,084	332,084	250,000
Parent*/Brother/Sister/ Niece/Nephew/ Grandchild	41,481	33,208	33,208	33,208
Any other person	20,740	16,604	16,604	16,604

* In certain circumstances a parent taking an inheritance from a child can qualify for the Group A threshold.

Disclaimer: Whilst every effort has been made to ensure the accuracy and reliability of the information published within this website, you choose to use this information and rely on any results at your own risk. We will not under any circumstances accept responsibility or liability for any losses that may arise from a decision that you may make from the use of, or reliance on this information.

Gift / Inheritance Tax

Latest News