I’m going to look at the tax implications of an inheritance from Uncle Pat. A case like this crossed my desk a few weeks ago. It was interesting for the taxes involved, and also for the work the executors had to do. While there was inheritance tax, there were other taxes too, like VAT and
Last week we looked at the basics of agricultural relief. This week we are going to look at some tips and traps when it comes to agricultural relief. The main ones are Meeting the farmer test Preparing to meet the test Deductions for liabilities Trees Clawback Better than Business Property Relief Meeting the farmer test
In the last month, I had 3 meetings where the inheritance of farmland was the main concern. The parcels of land were more than 80 acres in all cases. Assuming a value of between €10,000 and €15,000 an acre the figures are high. So, Agricultural relief is vital for you to check out. This week
