Capital Taxes
Capital taxes include capital gains tax (CGT) payable on the sale or transfer of an asset, capital acquisitions tax (CAT) which is payable on the receipt of a gift or inheritance, and stamp duty, which is payable on the purchase of assets.
In addition to assisting in filing the appropriate returns and advising on the payment of tax, our specialists can also provide advice on:
- Availing of CGT retirement relief on the sale of your business assets or shares in your family company.
- Availing of CGT and stamp duty relief on the transfer of assets between companies.
- Availing of CAT relief on the receipt of gifts or inheritances of shares in a family business.
- Minimising stamp duty on the acquisition of a business.
- Minimising tax (including stamp duty and CGT) on the transfer of assets to a company, or on extracting assets from a company.
- Fully availing of all other reliefs and incentives in respect of capital taxes.
CAPITAL TAXES FACTS
| Tax rate | 20% |
| Annual exemption | 1,270 |
| Retirement relief limit | 750,000 |
| Payment dates for gains released between... | |
| 1 January and 30 September | 30 October |
| 1 October to 31 December | 31 January |
CAPITAL ACQUISITIONS TAX (gifts / inheritances)
| Tax Rate | 20% |
| Exemptions…. | |
| Parent to child | 496,824 |
| Brother/ sister or child | 49,682 |
| Of brother / sister | |
| Others | 24,841 |
| Annual small gift exemptions | 3,000 |
