Capital Acquisitions Tax (known as “CAT”) is a tax on gifts and inheritances. You may receive gifts and inheritances up to a set value over your lifetime before having to pay CAT. Once due, it is charged at the current rate of 33% (valid from 6 December 2012).
There is provision for a tax-free threshold below which no tax is paid, and there are 3 categories of threshold group 1, group 2 and group 3.
Capital Acquisition Tax Thresholds
Seaspray will review all the potential exemptions and reliefs available for each individual client.
These include:
Relief can also be obtained through life assurance arrangements. Section 72 Policy:
A Section 72 insurance is a revenue approved life insurance policy. The proceeds of this policy are tax-free if used to settle an inheritance tax bill. It’s a life assurance policy to cover inheritance tax.
For a more detailed analysis of the rules and regulations of Inheritance tax please contact your tax advisor.
DUBLIN
25 Lower Leeson Street,
Dublin 2, Ireland
Phone: +353 1 70 70 000
Email: paul.mcgowan@seasprayfs.ie
GALWAY
Phone: +353 91 342 512
Email: danny.oleary@seasprayprivate.ie
Email: adele.taylor@seasprayprivate.ie
Email: gordon.gunning@seasprayprivate.ie
Email: irene.ledwith@seasprayprivate.ie
Seaspray Private Limited is regulated by the Central Bank of Ireland. Registered in Ireland number: 692221
WARNING: IF YOU INVEST IN A PRODUCT YOU MAY LOSE SOME OR ALL OF THE MONEY YOU INVEST.WARNING: IF YOU INVEST IN A STRUCTURED PRODUCT YOU WILL NOT HAVE ACCESS TO YOUR MONEY BEFORE THE PRODUCT MATURES.
WARNING: IF YOU CASH IN A FIXED TERM PRODUCT BEFORE THE MATURITY DATE YOU MAY LOSE SOME OR ALL OF THE MONEY YOU INVEST.
