How to cut your inheritance tax

Capital acquisitions tax (CAT) thresholds are very low, but could change in the upcoming budget

PIcture: iStock

You must make a tax return if the total value of gifts and inheritances you have received in one of the groups below, since December 5, 1991, is more than 80 per cent of the tax-free threshold for that group:

■ Group A (son/daughter) €225,000

■ Group B (parent/brother/dister/niece/nephew/grandchild) €30,150

■ Group C (relationship other than that of A/B) €15,075

The tax rate is 33 per cent. You pay CAT by self-assessment (pay ...