Do I Have to Pay Tax on Inheritance in Ireland?

Yes, in Ireland, inheritance is subject to Capital Acquisitions Tax (CAT). The amount of tax you need to pay depends on the value of the inheritance and your relationship to the deceased.

Step 1: Exemption Thresholds: The amount you can inherit without paying CAT depends on whether you are in Group A, B, or C:
Group A: Children or grandchildren of the deceased, with an exemption threshold of €335,000.
Group B: Siblings, nieces, and nephews, with an exemption threshold of €32,500.
Group C: All others, with an exemption threshold of €16,250.
Step 2: Tax Rate: If your inheritance exceeds the threshold for your group, you will be taxed at a rate of 33%.
Step 3: Tax-Free Gifts: Some exemptions apply, such as for gifts between spouses or civil partners, which are tax-free.
You should consult with a solicitor or tax professional to ensure that you understand your obligations and maximize any available exemptions.