Gift and Inheritance Tax
Planning for Gift and Inheritance Tax in Ireland
Thresholds, Reliefs & Structuring Strategies for Families
In this discussion, the Warren & Partners team unpack the complexities of Gift and Inheritance Tax (CAT) in Ireland — a topic that resonates with families and business owners alike. The conversation covers the importance of tax-free thresholds, the €3,000 small gift exemption, and significant reliefs such as business, agricultural, and dwelling house reliefs. They explore the benefits and challenges of transferring assets during life versus on death, and highlight the role of trusts and family partnerships in protecting assets while retaining oversight. The team also addresses international considerations — particularly for US and UK assets — and emphasise the importance of planning ahead, making a will, and getting advice before making any transfer.
Key topics include:
- Tax-free thresholds and the €3,000 small gift exemption
- Dwelling house, business, and agricultural reliefs (90% reductions)
- Differences between gifts made during life and transfers on death
- Use of discretionary trusts and family partnerships
- International tax issues (US & UK treaties and exemptions)
- Capital Gains Tax and CAT offsets, and why timing matters
- Importance of wills and advance tax planning
Highlights
Explore the key points from this conversation through a selection of highlight snippets below. These brief clips distil the essential messages, offering quick and valuable insights at a glance.
1. Available reliefs
2. Conditions for reliefs
3. Death transfers of assets
4. Transfers on death
5. Lifetime transfers
6. US_UK benefits
7. US exemption question
8. Ruling from the grave
9. Wills
10. Key takeaways
