Gift and Inheritance Tax (Capital Acquisitions Tax – CAT)
CAT is a tax on gifts and inheritances. You may receive gifts and inheritances up to a set value over your lifetime before having to pay CAT. Once due, it is charged at the current rate of 33% (valid from 6 December 2012). For more information on previous rates see CAT thresholds, rates and rules.
The person who gives you the gift or inheritance is called the disponer.
The person who receives the gift or inheritance is called the beneficiary.
Gifts become inheritances if the disponer dies within two years of giving the gift.
For full legal definitions, please see the glossary in the Guide to completing a Statement of Affairs (Probate) Form SA.2.
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