Budget 2025: Children will be able to inherit up to €400,000 free of tax with while thresholds for other inheritances rise for first time in six years
Children will be able to inherit up to €400,000 free of tax while thresholds for other inheritances rise for first time in six years
The changes will come into effect from tomorrow, October 2nd, under financial resolutions that the Dáil was voting on later on Tuesday.There was no change in the rate at which tax is applied to amounts over those thresholds — 33 per cent. “Changes to the Group B and Group C thresholds go further than have been expected. However, as these bands have not increased in many years, this has been some time coming,” she said.Des Lynch, a partner, O’Flynn Exhams LLP, said the measures did not go far enough, “in particular, to combat the grossly unfair position many children find themselves in having to pay inheritance tax when inheriting from a parent”.
“In a State that exempts substantial lottery and gambling wins from taxation, it seems that winning money on a flutter is perceived by Government as more beneficial to society and the State than the simple generosity of those deceased and their concern for the welfare and financial security of others,” said Mr Shatter, who is chairman of the Inheritance Tax Reform Campaign.
For-You Inheritance-Tax Jack-Chambers Alan-Shatter
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