What's in the tea leaves for Category B inheritance transfers?
Gifts and inheritances between brothers and sisters and aunts/uncles and nieces/nephews are all considered 'Group B beneficiaries'.
The Tax Strategy Group has prepared its annual papers for the consideration of the Department of Finance ahead of this year’s budget.
Capital Gains Tax receipts in 2022 were €1.7bn, while Capital Acquisitions Tax (also commonly known as gift or inheritance tax) receipts for 2022 were €605m, giving a combined total for capital taxes of €2.39bn in 2022, which represents 2.5% of overall net exchequer receipts collected (€95.4bn).
