Inheritance tax may apply when someone receives a gift or inheritance at a rate of 33%. Over recent years the thresholds have been reduced significantly and the tax rates have increased.
Currently, each child can receive a gift or inheritance up to the value of €310,000 from a parent (known as parent to child threshold). Other threshold amounts apply depending on the relationship between the person who receives the gift/inheritance and the doner.
If you are concerned about passing on your personal or business assets you should speak to us.
We can guide you through the various options and reliefs available to reduce and in some circumstances eliminate tax liabilities for your successors.