Capital Acquisitions Tax

Capital Acquisitions Tax is the tax that applies to gifts and inheritances received.  The tax is levied on the recipient not the donor.  As a self-assessed tax it is the responsibility of the recipient to correctly identify whether a tax liability arises, whether there is an obligation to file a return and what deadlines apply to the filing and payments.

Bainbridge Tax Consulting can assist you to:

  • Identify whether a gift or inheritance is subject to Capital Acquisitions Tax
  • Determine what reliefs or exemptions may apply
  • Calculate potential tax liabilities
  • Complete and file your returns on time.

If you are planning to gift money or property to someone or to leave a bequest in your will we can assist you to structure the gift in a tax efficient manner so as to take advantage of appropriate exemption limits and reliefs as they apply.

Please remember, once an action is taken it is frequently impossible to make it more tax efficient.  A little planning in advance of a gift or inheritance can make a big difference.