Fair Deal can hit your farm — but there’s a way to cap it at 22.5%. If the land’s been farmed for 5 years and a successor works it for 6 more, you can protect your assets. Plan early. taxunwrapped.ie #fairdeal#irishfarming#taxplanning#inheritance
Revenue asked for his wife’s bank statements. Yes — they can. If you’re jointly assessed, Revenue can demand them. Separate treatment stops that. Protect your family’s privacy → taxunwrapped.ie #taxtips#taxplanning#revenueaudit#irishbusiness
€50k paid to a teenage sister. No payslips. No records. Revenue allowed €9/hour — and disallowed the rest. Hire Your Kids works — but only if it’s done right. taxunwrapped.ie #taxtips#hireyourkids#taxplanning#revenueireland
Gift €20k tax-free — every year. No, not under the €3k rule. It’s called in loco parentis, and it applies if you’ve taken on a parental role — even informally. We help clients use it properly. taxunwrapped.ie
Ireland’s inheritance tax is 33% — the second highest in Europe. 11 countries charge nothing. 9 keep it under 20%. Ireland sits in the FIGS club — France, Ireland, Germany, Spain.
Changing share rights isn’t just paperwork. Directors reshuffled value into new shares. No cash moved — but Revenue taxed it like a dividend. This “paperwork” could cost thousands. 👉 taxunwrapped.ie
“Just use a trust to avoid inheritance tax.” Not so fast. Discretionary trusts: • 6% upfront charge • 1% annually • CGT when assets leave Trusts are tools, not loopholes. Plan them right. taxunwrapped.ie #inheritancetax#trustplanning#estateplanning#taxtips
Inherited a house? He thought it was tax-free. But years surfing abroad meant just 387 days at home in 3 years. Revenue denied the exemption. €314k tax bill stuck. Don’t let weak records cost you. taxunwrapped.ie #inheritancetax#taxtips#dwellinghouseexemption
Gift shares in a €10m property company? On paper: €3.3m each to 3 children. With minority discounts: €2.2m each. That’s over €1m in tax saved. Don’t get caught out by poor planning. taxunwrapped.ie #taxtips#successionplanning#inheritancetax#CGTireland
Got a Revenue audit letter? Here are 5 things your accountant should have told you - but probably didn’t.
• No appeal on years selected • More years ≠ more time • 60-day extension is your legal right • Review filings for mistakes • One chance to disclose - €50k+ = publication
Unlimited earnings. €200k tax. 100% legally. Ireland’s top rate takes 50% on salary. Sell €10m of shares here and €3m goes to Revenue. Italy lets you lock it all at €200k flat. taxunwrapped.ie
