Gift and Inheritance Tax (Capital Acquisitions Tax – CAT)
Property transferred as a gift or adverse possession
You might have a property transferred to you:
- with no money paid
- where the amount paid is less than market value.
Revenue treat this transfer as a gift, and CAT may be due.
We may also charge Stamp Duty on the market value of the property. The person who receives the property pays the Stamp Duty.
Where a property is transferred on inheritance, no Stamp Duty is payable.
You might acquire land by adverse possession (often called squatter’s rights). If you do, you can apply to the Property Registration Authority (PRA) to be registered as the owner under the Land Registration Rules 1972.
Before you can register the title, you must have a Capital Acquisitions Tax Clearance Certificate, Form CA12.