Vol. 418 No. 4
80 Mr. Cosgrave asked the Minister for Finance if his attention has been drawn to the difficulties being caused to many people who are liable to inheritance tax but who are unable to pay it prior to receiving their inheritance; if he will review this situation; and if he will make a statement on the matter.
I have been advised by the Revenue Commissioners that the inheritance tax charging provisions are specifically directed at inheritances that have been distributed or are in readiness for distribution. It is difficult, therefore, to envisage a situation where a liability could arise prematurely.
Normally the charging date for inheritance tax does not arrive until a grant of probate or administration has been extracted and the inheritance is ready for distribution.
Moreover, where a person who inherits a house or lands exercises his option to pay the tax by five equal annual instalments, the first instalment does not fall due until the first anniversary of the charging date.
If the Deputy is aware of specific cases involving problems in this area, I will have them investigated on receipt of the necessary details.
