Heritage Exemption

You may receive a gift or inheritance of the following:

  • pictures
  • prints
  • books
  • manuscripts
  • works of art
  • jewellery
  • scientific collections.

These are exempt from Capital Acquisitions Tax (CAT) if the following three conditions are met:

  • The item is of national, scientific, historic or artistic interest.
  • The item is kept permanently in the State.
  • Reasonable facilities for viewing are available to the public.

Heritage exemption also applies to houses and gardens in the State not used for a trade provided that:

  • during the three years prior to the date of gift or inheritance, reasonable facilities for viewing are available to the public.
  • following the gift or inheritance, reasonable facilities for viewing are available to the public.

Withdrawal of exemption

Heritage exemption will cease to apply if any exempt object:

  • is sold within six years of the valuation date and before the death of the beneficiary (except for a private treaty sale to recognised bodies)
  • or
  • is, other than with permission, moved outside the State or the reasonable viewing facilities referred to previously are withdrawn at any time after the valuation date and before:
    • the object is sold
    • the beneficiary dies
    • or
    • the object is again passed on by way of an absolute gift or inheritance to a beneficiary who is not the spouse of the first beneficiary.

In the event of a clawback of the relief you must file a revised return. An amended Form IT38 must be filed to remove the relief you have claimed.