Gift and Inheritance Tax (Capital Acquisitions Tax – CAT)

What charges are there for late filing?

If you receive a gift or an inheritance, you may have to file a return. The charge for the late filing of a return is a percentage of the total tax due for that year, and will depend on the length of the delay.

There is an overall cap on the amount you have to pay. If you file the return within two months of the filing date, 5% will be added (up to a maximum of €12,695). After that time, 10% will be added (up to a maximum of €63,485).

You may also have to pay the following daily interest rates for late payments:

Daily interest rates for late payment
Valuation Period% Interest due
31 March 1976 to 31 July 1978 0.0492%
1 August 1978 to 31 March 1998 0.0410%
1 April 1998 to 31 March 2005 0.0322%
1 April 2005 to 30 June 2009 0.0273%
1 July 2009 to date of payment 0.0219%

A reduced rate of interest applies where Capital Acquisitions Tax (CAT) due on agricultural property and relevant business property is being paid by instalments.

Valuation Period% Interest due
8 February 1995 to 31 March 1998 0.0307%
1 April 1998 to 31 March 2005 0.0241%
1 April 2005 to 30 June 2009 0.0204%
1 July 2009 to date of payment

0.0164%

If an instalment payment is overdue, the interest rate reverts to the normal daily rate. 

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