Tuesday, 12 November 2019

Ceisteanna (123)

Robert Troy


123. Deputy Robert Troy asked the Minister for Finance if a person (details supplied) will be awarded favourite nephew or niece tax relief on appeal. [46247/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

To qualify for the favourite niece/nephew relief, which only applies to assets used in a business, the person must be a child of the disponer’s brother or sister. The person must also have worked for him (the disponer) for the five years immediately before receiving the gift or inheritance, for either 15 hours per week in a small business (run by the disponer and spouse or civil partner), or for 24 hours per week in a larger business (where there are other employees).

I am advised by Revenue that a Capital Acquisitions Tax (CAT) return was recently received. Revenue has confirmed to me that it cannot determine if the person is entitled to the favourite niece/nephew relief from the information available. To clarify matters the person should contact Revenue at telephone number 042-935 3410.