Dáil Éireann díospóireacht -
Wednesday, 20 Nov 1996

Vol. 471 No. 7

Written Answers. - Capital Acquisitions Tax.

Brian Cowen

Ceist:

115 Mr. Cowen asked the Minister for Finance if the Revenue Commissioners will consider some reassessment of the capital acquisition tax liability being imposed on the estate of a person (details supplied) in County Offaly in view of the particular circumstances of this case and the hardship which will be involved regarding the estate in question. [21578/96]

Minister for Finance (Mr. Quinn)

I am informed by the Revenue Commissioners that where the payment of gift or inheritance tax would cause excessive hardship for the beneficiary, the Commissioners will consider proposals for postponement of payment of tax.

The Revenue Commissioners have indicated to me that, in this particular case, an inheritance tax self-assessment return with the appropriate tax payment has been received in respect of part of the inheritance taken by the beneficiary. No request for the case to be considered on hardship grounds was submitted at that time.

Revenue have yet to be furnished for the remainder of the inheritance. When these are being submitted, the beneficiary or the agent acting on behalf of the beneficiary, should indicate the grounds on which hardship is being claimed with supporting information on the financial circumstances of the beneficiary. The Commissioners will consider the matter at that stage.