Inheritance tax is a tax paid by a person who inherits money or property from a person who has died.
In Ireland, it’s a type of Capital Acquisitions Tax (CAT) as opposed to the UK, where the estate of the deceased is liable for the tax.
An estate tax is a levy on an estate, whether money or property, of a person who has died. Inheritance tax is assessed on the legacies received by the estate’s beneficiaries.
Contact us at PETER O’CONNOR & SON Solicitors & Notaries for help in matters of estate or inheritance tax.