Calculator

What would your family actually owe?

Inheritance tax is charged on the person receiving. Put in what would pass to one person and see the bill, and what they are left with.

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33% charged above the threshold

€400,000 the threshold for a child

In cash and generally payable within months

The thresholds

Lifetime totals, by relationship

Each person has a tax-free threshold based on their relationship to you, and gifts you make now use up the same allowance.

€400,000 Group A: to a child

€40,000 Group B: sibling, niece, nephew or grandchild

€20,000 Group C: anyone else

Try it

What one person would owe

Choose the relationship, then put in what would pass to them and anything they have already received from you.

Who is receiving it?

Passing to themProperty, savings, policies and anything else {{ valLabel }}

Already received from youGifts and inheritances during your lifetime {{ priorLabel }}

Thanks. We will send that over shortly, and one of our advisers will follow up if you would like.

Illustrative only and not personal advice. Figures are checked against Revenue and revised after each Budget. Capital Acquisitions Tax thresholds are lifetime totals per relationship group, and the rate above the threshold is 33%. Transfers between spouses and civil partners are exempt. Reliefs such as dwelling house, agricultural and business relief are not applied here and can change the answer substantially.

If there is a bill

What to do about it

A bill of any size is payable in cash, generally within months. If most of the value is a house, that is money the family may not have.

01 A Section 72 policy is life assurance written specifically to pay an inheritance tax bill, and the proceeds are exempt from CAT when used for that purpose.

02 The €3,000 small gift exemption does not touch the threshold at all, and a couple can each use it for each child every year.

03 Reliefs can wipe out a bill on a home, farmland or a trading business, but all of them have conditions to satisfy over years.

04 A will is not a plan. It says who gets what. It does nothing about the tax.

Book a call

Pick a date and time that suits you.

No sales pitch, just a conversation about what you already have, what it is heading for and whether we can improve it. You will get a written summary either way.

Cian O’Sullivan Director and Financial Adviser, Finnegan Maguire Financial Advisors

30 minutes Phone or video call, no charge

Rather just ring? Call 0818 44 55 66 or email go@splash.ie

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