Completing your gift or inheritance tax return (IT38)

Filing obligations for beneficiaries

There are three different tax-free group thresholds. These thresholds depend on your relationship to the person making the gift or inheritance. You must pay tax when the total taxable value of all gifts or inheritances received within any one group exceeds that threshold.

If the total taxable value of your gifts and inheritances exceeds 80% of the relevant group threshold, you must file an IT38 return. This obligation applies even though you may not have a Capital Acquisitions Tax (CAT) liability.

To calculate the 80%, aggregate the taxable value of all benefits received within the same group threshold since 05 December 1991.

Use myAccount or Revenue Online Service (ROS) to complete and submit your IT38 return.

If you are claiming Agricultural Relief or Business Relief on a gift or inheritance, you must file a CAT return. This applies regardless of the taxable value of agricultural or business property and its proportion of the relevant group threshold.

If you receive a gift in respect of an interest free loan, you may have to file a CAT return. For further information, please see Filing obligations in relation to certain interest free loans.

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