Denis Naughten (Roscommon-Galway, Independent) | Oireachtas source

If a person leaves a home with a market value of €300,000 in a will to a favourite niece or nephew, who might be the person's nearest relative, the recipient will be hit with a capital acquisitions tax bill of almost €88,275, while a son or daughter would get a tax-free inheritance threshold of €335,000. A nephew or niece is only entitled to a threshold of €32,500 before paying tax at a rate of 33%. By contrast, Britain has a tax-free inheritance allowance of £325,000, regardless of who the beneficiary is in the deceased person's will, before taxation comes into effect. The threshold is even higher for children of a deceased person. Will the Minister look again at these thresholds?

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