Exemption of heritage property

A gift or an inheritance of pictures, prints, books, manuscripts, works of art, jewellery or scientific collections may be exempt from Capital Acquisitions Tax (CAT). To qualify for the exemption, the following conditions must be satisfied:

• the object is of national, scientific, historic or artistic interest
• the object is kept permanently in the State
• reasonable facilities for viewing are available to
  • members of the public
  • recognised bodies
  or
  • associations of pensions
• and
• the object is not held for the purpose of trading.

The exemption also applies to houses and gardens in the State where the following conditions are satisfied:

• during the three years prior to the date of the gift or inheritance, reasonable facilities for viewing were available to the public
• following the date of the gift or inheritance, reasonable facilities for viewing continue to be available to the public
• and
• the property is not held for the purpose of trading.

Revenue must be satisfied that the house or gardens is of national, scientific, historic or artistic interest.

The object or house or garden must form part of the gift or inheritance at:

• the date of the gift or inheritance
• and
• the valuation date.

To claim heritage exemption, you must complete a Form IT38 online.

Withdrawal of exemption

The 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• is moved outside the State without Revenue approval, or the reasonable viewing facilities referred to previously are withdrawn at any time after the valuation date and before: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 exemption you must file an amended Form IT38 online to remove the exemption you claimed.

How to claim the exemption

To claim the Exemption of heritage property, you need to file a CAT return Form IT38 online. You must file the return through myAccount or Revenue Online Service (ROS).