Vol. 515 No. 6
151 Mr. McGrath asked the Minister for Finance if probate tax is payable by a widow on inheriting either the family home or the family farm which was held either in her late husband's name or in joint ownership by her and her late husband; and if he will make a statement on the matter. [6666/00]
Probate tax is generally charged at a rate of 2% on the net value of non-exempt assets left by a deceased, whether the assets pass under a will or intestacy. The threshold for exemption of estates from this tax is currently £40,000. However, where the property is inherited absolutely, there is full exemption from probate tax for spouses.
