Will this make a difference to whether I pay capital gains tax or not ? Ms M.McL., emailIt certainly will, though the tax you will be paying is capital acquisitions tax, not capital gains tax. The scenario you outline means you are looking at the dwelling house exemption – one of the more generous of the reliefs from inheritance tax available. The answer, as framed by the dwelling house exemption, was to allow certain people inherit a property free of tax. On any sum above the threshold, you are liable for inheritance tax, formally called capital acquisitions tax, at 33 per cent.

Source: The Irish Times October 30, 2018 05:48 UTC