{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Inheritance Tax in Ireland: Gift Now or Leave It? - with Mair\u00e9ad Hennessy from Taxkey.ie","description":"Inheritance tax in Ireland is charged at 33% on anything above \u20ac400,000 passing from a parent to a child. The question most families never properly work through is whether to move assets during their lifetime or leave them until the end. And that decision changes the bill, the timing, and who ends up paying it. Paddy is joined by Mair\u00e9ad Hennessy of Taxkey, a firm of independent tax consultants, for a practical conversation about passing wealth on in Ireland. What you'll learn in this episode: \u2022 Why the tax question is the wrong place to start, and what to work out first \u2022 How the \u20ac3,000 small gift exemption works, what makes it fail, and why it is worth far more over time than the figure suggests \u2022 How capital gains tax paid by a parent can be credited against a child's inheritance tax bill and the two-year condition attached to it \u2022 What a business transfer needs in place in the ten years before it happens, and why the child has to be in the room \u2022 Family partnerships: how they work, who they suit, and what they cost you in privacy \u2022 The US Federal Estate Tax exposure sitting in Irish households through employer shares, and the $60,000 threshold behind it We recorded this just as the roadmap for the taxation of private investments was published; it therefore also provides an initial outlook on the investment account to be introduced in 2027 and its implications for notional disposals. If you are approaching retirement with a business, property or a portfolio that will have to move at some point, or you are in line to inherit and would rather understand it in advance, this episode is for you. \ud83c\udf99\ufe0f Full podcast episode and \ud83d\udcd6 Blog: www.informeddecisions.ie\/post\/inheritance-tax-ireland-gift-or-inherit  \ud83d\udcca Want to check where you are? Try our free 10-minute Retirement Readiness Scorecard: www.informeddecisions.ie\/pension-calculator  \ud83d\udcc5 Find out how we work: www.informeddecisions.ie  \ud83d\udd17 Mair\u00e9ad Hennessy, Taxkey: www.taxkey.ie  Book mentioned: Self Employed \u2013 The Forgotten Community by Dan O'Donoghue: https:\/\/buythebook.ie\/product\/self-employed-the-forgotten-community\/  DISCLAIMER This content is for general educational purposes only and does not constitute personalised financial or tax advice. Everyone's situation is different: always speak to a qualified, independent advisor before making pension, investment or estate planning decisions. Tax rules and pension regulations change; figures quoted are accurate at time of recording. ","author_name":"Informed Decisions: Ireland's Independent Retirement Planning Podcast","author_url":"https:\/\/www.informeddecisions.ie","html":"