Exemption of certain securities
Government securities and securities issued by certain local authorities and statutory bodies are exempt from either gift or inheritance tax if:
- they are taken by a beneficiary who is neither domiciled nor ordinarily resident in the state
- the disponer is domiciled or resident in the State and the securities were held by them for 15 years before transfer. Shorter holding periods apply where they were acquired before 24 February 2003.
This exemption is not available for Discretionary Trust Tax.