Capital Acquisitions Tax (CAT)
Whether it is the receipt of a gift or an inheritance, it will be necessary to consider the tax implications for the recipient. We offer a comprehensive service by considering the tax implications of any Capital receipt and what tax returns may be required. This will include the preparation of relevant CAT tax Return for all gifts and inheritances under the Self-Assessment System.
Our other service in this area includes:
- Estate Planning: review of the tax implications of proposed future gifts and existing Wills to better plan for the passing on of family assets and businesses, whether by gift or inheritance in a more tax efficient manner.
- Exemptions and reliefs for CAT:
a) Use of Exempt Thresholds
b) Business and Agricultural Relief
c) Use of small gift exemption
d) Dwelling House Relief
e) Section 60 Policies
f) Capital Gains Tax set off
- Trusts, including Discretionary Trusts.
- Territorial Limits and Residence issues
- Clearance Certificates.
- Revenue Audits.