Inheritance tax Ireland to the UK

Regmir

Hi all,

Looking for information on paying tax for moving inherited money from Ireland to the UK.
I am the UK resident, a relative left a bit of money in Ireland when the person died. I had to pay inheritance tax in Ireland according to the Irish law - but now what will happen if I want to move that money to the UK? Will it be taxed again to move here?

Thanks

Ian_W

I'm certainly no expert but AFAIK IHT is a tax on the estate, not the individual beneficiaries, though it obviously affects what they receive.
The estate has been dealt with in Ireland under Irish tax law so I can't see how what you get will taxable in the UK.
Hopefully an expert will be along shortly to confirm this.

Alfie_E

Ian W is correct about UK inheritance tax, it’s the estate that pays the tax. Irish tax does seem to have some differences, and does seem to depend on who gets what money. When it comes to UK inheritance tax, my understanding is, you have to answer the following question. Was the deceased domiciled in the UK? Foreign assets are only liable to inheritance tax in the UK, if the deceased was domiciled in the UK. So, if they were living in Ireland, with the intention to remain there, there can be no possibility of UK inheritance tax.

Also, for UK inheritance tax, its the person or people administrating the estate who have to worry about any tax issues. If they fail to pay any tax, it’s their problem, not yours. If you are involved with the administration of the deceased’s estate, and have any concerns, contact HM Revenue & Customs Capital Taxes. The Inheritance Tax and Probate Helpline number is 0115 9743009.

Cook_County

The previous 2 posts are correct. If you are domiciled in Ireland you could deposit the inheritance offshore (eg Channel Islands) and owe no UK tax on the interest you receive.