Gift and Inheritance (CAT) planning


Personal & Corporate Taxation

Gift and Inheritance (CAT) planning

Capital Acquisitions Tax is charged on the receipt of assets by way of gift, inheritance or otherwise received at less than market value. CAT planning is important to ensure your inheritors don’t suffer penal taxes. We work closely with clients wishing to pass on assets to their successors in the most tax-efficient manner possible. This begins with reviewing all exemptions and reliefs for each individual client.

Some of the more common exemptions/reliefs include:

  • Small gift exemption
  • Exemption for spouses
  • Agricultural relief
  • Business property relief
  • Credit for Capital Gains Tax paid against Capital Acquisitions Tax due
  • Exemption of certain dwellings

The current downturn in the market may present an opportunity to transfer wealth to the next generation in a more tax-efficient manner.

Our service include:

  • Preparation of CAT returns
  • Residence and domicile status
  • Ensure all deductible costs are claimed
  • Succession planning & retirement strategies
  • Exemptions, allowances and reliefs (Business & Agriculture relief)
  • CGT & CAT offset
  • Claw back issues
  • Due diligence
  • Budget updates

Contact McDonald Walsh to talk to a member of our tax team on 093-24693