Inheritance and Gift Tax

Inheritance and gift tax is the tax which is applicable to people who inherit under a Will or under the rules of intestacy, or receive a gift.

In the tax year commencing 1st January 2004 , Children can receive up to  €456,438 tax free. Parent/Brother/Sister/Niece/Nephew/Grandchild, can receive up to €45,644 free of tax.

Subject to certain restrictions, you can give a gift/money valued at €22,822 tax free.

When an inheritance or gift exceed the relevant tax free threshold , tax at a rate of 20% applies on the balance.

You should seek financial advice on the possible tax implications of any gift or inheritance.