Inheritance tax take soars
The number of people paying inheritance tax has soared by 35 per cent since 2008, after the tax-free thresholds for those receiving an inheritance or gift were slashed in a series of austerity budgets.
New figures from the Department of Finance show that the number of cases where inheritance tax was payable has soared in recent years, rising from 8,440 cases in 2010 to 11,370 last year. The total yield from inheritance tax jumped from about €186 million in 2010 to almost €328 million last year.
The rate of capital acquisitions tax (CAT) applied both to gifts and inheritances has jumped from 20 per cent in 2008 to 33 per cent now, while the tax-free...
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