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Inheritance Tax Changes in Budget 2025
The rate of CAT remains at 33%, however the amount of money that your beneficiaires may inherit before this rate of tax is payable has increased marginally from €335k to €400k.
It’s not much, but it’s a step in the right direction. Effectively, this will save your beneficiaries (assuming to be from category A – your children) an additional €21,450 in tax, assuming they inherit an estate valued at more than their maximum lifetime threshold.
This confirms the strong need to consider a Section 72 policy when looking for effective estate planning.
Large amounts of tax still due when passing your assets on to your children and any other beneficiaries.
“The minister said that the Group A threshold is increasing from €335,000 to €400,000; the Group B threshold is increasing from €32,500 to €40,000 while the Group C threshold is increasing from €16,250 to €20,000.”
If you would like to have a chat about how you can effectively plan for this inevitable tax and how best to protect the assets that you have worked hard to build, all while reducing the overall tax bill, please get in touch with a qualified advisor today.
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