31 Oct. deadline now applies to Gift/ Inheritance Tax

This year, for the first time, the annual 31 October ‘Pay and File’ tax deadline applies to tax on gifts & inheritances.

Gifts and Inheritances are subject to Capital Acquisitions Tax, CAT for short.  If you received a gift or inheritance with a valuation date within the period 1 January to 31 August 2010, you must file a CAT return with Revenue by 31 October, AND pay your tax liability by this date.

If you use ROS to pay and file online, you can avail of the extended Pay & File deadline of 16 November.  This extension also applies to CAT.

See this recent Revenue statement for more details.