Ryan's Accounting & Financial Solutions Ltd

Capital Acquisitions Tax (CAT)

Capital Acquisitions tax is a tax on both gifts and inheritances of assets passing from one individual to another.

It’s an area that we don’t see in our day to day lives but most of us will be affected by it at some stage either as the person receiving/giving the gift/inheritance.

There is little scope at the time of the event so your main tool will be advance tax planning. We recognise that it’s a difficult topic for many families to discuss openly so will treat every case with empathy.

 

Capital Gains Tax (CGT)

We can provide the full package of advice around CGT from advance planning to execution, tax computation and revenue returns.

CGT is a tax you pay on any capital gain (profit) made when you dispose of an asset. It is the chargeable gain that is taxed, not the whole amount you receive.

The chargeable gain is usually the difference between the price you paid for the asset and the price you disposed of it for. CGT is payable by the person making the disposal.