Inheritance & Gift Tax

Inheritance & Gift Tax

Warren & Partners provide bespoke advice regarding capital acquisitions tax in Ireland, which includes inheritance tax, gift tax and discretionary trust tax.

We help our clients (including family offices) to create tax-efficient strategies for passing wealth to the next generation.

Given the Inheritance & Gift tax rate is currently 33%, we focus on identifying applicable exemptions or tax reliefs that you may be eligible for. We can assist you in identifying and addressing any foreign tax that your estate may be exposed to.

When does inheritance and gift tax arise?

In Ireland, inheritance tax arises on receipt of an inheritance from someone following their demise, whereas gift tax arises on receiving a gift from someone during their lifetime.

We will guide you in all matters relevant to Irish capital acquisitions tax (CAT) including:

Business relief

If your business is eligible for business asset relief, we can assist you in reducing the taxable value of a gifted or inherited, qualified business asset by up to 90%.

Retirement relief

If you are over the age of 55 and are planning to transfer some or all of your business assets to a third party, we can assist you in availing of capital gains tax (CGT) retirement relief for eligible assets, to significantly reduce your CGT liability.

Agricultural relief

Capital Acquisitions Tax relief is available in respect of gifts and inheritances of agricultural property, subject to certain conditions being satisfied.

The relief operates by reducing the market value of “agricultural property” by 90%, so that gift or inheritance tax is calculated on an amount - known as the “agricultural value” – which can be substantially less than market value.

Trust structures

We assist clients in the creation of legacy Irish trust structures and can assist with the restructuring or termination of existing trust structures. Through our international network of peer firms we can also direct you to foreign tax advisors who will provide you with assistance regarding offshore structures.

Warren & Partners are a boutique Irish tax and business advisory firm based in Ballsbridge, Dublin. Our experienced-team of tax advisors will create unique tax solutions for your specific business needs.