9 results

Unless you are paying rent to your uncle at the market rate when you move into this home, Revenue will consider that you are in receipt of a gift. Photograph: Kate Geraghty

(...) move in now and live in the property, will I be exempt from any tax when he passes away and I inherit(...)

If someone rents out a property, Revenue will assume that it is being done at the market rate for the property’s area. Photograph: Kate Geraghty

I have a query about rental income. A close relative of mine owns a second house which he inherited in 1996 and which is derelict for 20 years. He is (...)

With a properly constructed will a son or daughter can avail of the dwelling house exemption on the family home while also inheriting a share of a  holiday home. Photograph: Nick Bradshaw

(...) all four siblings, will the part-ownership of the holiday property nullify her entitlement to inherit(...)

Revenue has   tightened the rules significantly when it comes to inheriting a property   free of tax. Photograph: iStock

I am to inherit a property. Although I don’t own any other property and I will use the property as(...)

A cash inheritance  of €150,000 is below the €320,000 tax exempt threshold applying for a child inheriting from a parent, and therefore incurs no tax bill.

If both parents die and leave the family home to their son who has always lived in the house (which is worth €320,000) as his principal private reside(...)

When it comes to abatement, specific legacies trump general legacies.

(...) sure where they get this interpretation. If your ex-husband is alive to inherit the house, it is his(...)

Photograph: iStock

I’ve lived with my mother for the last 15 years and, during that time, she had dementia. I took over paying all the bills in 2009 and the running of t(...)

Proper tax planning aims to ensure any property portfolio is liquidated into cash – or that the other properties are allocated in a will to parties other than the person destined for dwelling house relief.

(...) key tests of eligibility – that the applicant for relief cannot at the time they inherit the family(...)

 To qualify for the dwelling house exemption from inheritance tax, a person must be living in the property they are inheriting for three years before the property passes to them – and for six years thereafter. Photograph: Yui Mok/PA Wire

(...) the relief. He was entitled to inherit (or receive gifts) to the value of €44,120 from siblings in(...)