Budget 2025 has seen a change to the Capital Acquisitions Tax Thresholds. Children inheriting from the parents can now receive gifts and inheritances up to €400,000.00 tax free. This applies from the 2nd of October 2024.
The Group B Threshold, which includes brothers, sisters, nephews, nieces, aunts, uncles, grandparents and grandchildren, can now receive up to €40,000.00 tax free.
The Group C threshold, being people with a relationship to the disponer not already covered in Groups A or B (stranger in blood) can now receive €20,000.00 tax free.
Each of these amounts can be received tax free either through gifts or inheritances made on or after 2nd of October 2024.
In the case of inheritance, the person giving the inheritance must have died on or after 2nd day of October 2024 for the above thresholds to apply.
For any information in respect of Probate or Wills, please do not hesitate to contact MW Keller & Son Solicitors LLP on 051 877029.
