capital acquisitions tax Archives - Terry Gorry & Co. Solicitors

The Benefits of Bare Trusts In Providing for Children

March 26, 2023March 21, 2019 by Terry

A bare trust, also known as a simple trust, is a tax efficient way to provide a nest egg for a minor. And can provide an excellent way to make provision for the cost of 3rd level education when the child turns 18. What is a bare trust? When the ownership of an asset is … Read more

Capital Acquisitions Tax in Ireland-The Essentials

May 17, 2024August 27, 2013 by Terry

Capital Acquisitions Tax (CAT) is a tax on gifts and inheritances and comprises two taxes: gift tax and inheritance tax. The calculation of the tax payable is based on The relevant legislation is the Capital Acquisitions Tax Consolidation Act, 2003. Here’s an example: Say you receive a benefit worth €50,000, and you have received no … Read more