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Inheritance Tax Thresholds

Gifts and inheritances can be received tax-free up to a certain amount. The tax-free amount, or threshold, varies depending on your relationship to the person giving the benefit. There are three different categories or groups. Each has a tax-free threshold that applies to the total benefits you have received in that category since 5 December 1991.

Over the last few years the tax-free amount of the group threshold have been reduced significantly. If you are not sure what group threshold your gift applies to or if you have received prior gifts and not sure if they are taxable, contact Irishtaxback.ie today to discuss your own personal situation.

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