While tax is not the foremost consideration when someone dies, it is nevertheless one of the areas that must be addressed before a deceased person’s financial affairs can be finalised.
Contents
This Booklet will explain:
Before looking at the tax consequences arising on a death (sections 2-5), it might be helpful to look briefly at some key terms, at the ways in which property passes on a death to the beneficiaries and at certain procedures that must be gone through before assets are handed over to the beneficiaries.
A deceased person’s estate consists of whatever assets (e.g. bank accounts, stocks and shares, house, land, livestock, jewellery, car, etc.) can be passed on to beneficiaries following the deceased person’s death.
The assets which make up the deceased person’s estate can pass on death in a number of ways. Assets left by will pass to the beneficiaries in accordance with the terms of the will. If there is no will (a situation known as intestacy), assets that would otherwise have passed by will pass instead under special rules laid down by law. In addition (as illustrated at 1.2.2), assets can also pass outside of the will or intestacy.
Assets owned in the deceased person’s sole name.
Assets owned by the deceased person but placed in the name of another for convenience or some similar reason.
Assets placed by the deceased person in the joint names of the deceased person and another without the intention of benefiting that other person.
Assets passing by nomination, e.g. the deceased person may have instructed An Post to pay saving certificates on his or her death to a particular person called the nominee.
Death benefits passing under a life insurance policy or pension scheme where the beneficiaries are particular family members named in the policy or scheme.
Assets passing in which the deceased person had an interest for his or her life only.
Assets placed by the deceased person in the joint names of the deceased person and another with the intention of benefiting that other person on the deceased person’s death.
The Personal Representative is the person who is responsible for finalising the deceased person’s affairs. He or she must, within a reasonable time, collect the assets passing under the will or intestacy, pay any debts and distribute the surplus assets to the beneficiaries entitled to them.
If there is a will, it is likely that the Personal Representative has been appointed by being named in the will as its executor and has taken on the responsibility for that reason. If there is an intestacy (no will), the Personal Representative will probably have taken on the responsibility simply because he or she is the deceased person’s spouse or civil partner or one of the next-of-kin. A Personal Representative who has not been appointed by will is known as an administrator.
A beneficiary is a person who inherits either the whole or part of the deceased person’s estate whether passing under the will or intestacy or outside of the will or intestacy.
Instead of providing for property to be given directly to the beneficiary, the deceased person’s will may provide that, for a specified period, the property is to be held on trust on behalf of a beneficiary by trustees named in the will. The trustees will take over the management of the trust property only after the estate has been administered by the Personal Representative. The trust will then continue until the time specified in the will for the ultimate handing over of the property.
Alternatively, the deceased may have placed property on trust during his/her lifetime. This property does not form part of the estate of the deceased but is held by the trustees for the beneficiary.
Note: The same person can have more than one role; for example, a Personal Representative can also be a Trustee and/or a Beneficiary. |
Before assets are handed over to the beneficiaries certain procedures must be gone through. Broadly, these are as follows:
In the case of an asset passing outside of the will or intestacy, production of a death certificate by the beneficiary is often all that is required to establish the beneficiary’s entitlement to receive the asset in question.
In order to get legal confirmation of his or her appointment, the Personal Representative must apply to the Probate Office of the High Court for a document known as a Grant of Representation. The Grant of Representation acts as an assurance to financial institutions (e.g. banks, building societies, credit unions, etc.) and to others that they can safely place the deceased person’s assets in the hands of the person named as Personal Representative in the grant. The Grant of Representation is also known as a Grant of Probate (where there is a will) or Letters of Administration (where there is no will).
A solicitor acting on behalf of the Personal Representative will normally make the application for the Grant of Representation. In straightforward cases, it may be possible to make a personal application for the grant through the Personal Application Section of the Probate Office.
In the absence of a letter of clearance from the Revenue Commissioners, banks, building societies and other financial institutions are prohibited by law from releasing monies (other than current accounts) lodged or deposited in the joint names of the deceased and another person or persons. This applies if, at the date of death, the total of all the amounts standing with the institution in the joint names of the deceased person and another or others exceeds €50,000. It does not apply, however, to monies which have only been held in the joint names of the deceased person and his or her surviving spouse or surviving civil partner. Applications for letters of clearance for production to financial institutions should be made to the deceased person’s Revenue office using Form CA4 - Capital Acquisitions Tax which is available to complete and print out on our website.
In summary this is what you should do about tax – and when you should do it.
What to do about tax and when if you are a personal representative
What you should do |
When |
|---|---|
Notify the deceased person’s Revenue office of the death (2.1) |
As soon as possible after death |
Sort out any of the deceased person’s outstanding tax issues(e.g. file outstanding tax returns) up to the date of death (2.2) |
As soon as possible after death |
Ensure tax is paid on any income or capital gains arising during the period when the estate is being administered (2.4) |
During the administration period |
The deceased person’s Revenue office should be advised as soon as possible of the date of death and the name and address of the Personal Representative. This will ensure that correspondence will be addressed to the Personal Representative until such time as the administration of the estate is finalised. The address of the deceased person’s Revenue office can be found on any correspondence from that office to the deceased person. If you are in any doubt as to which Revenue office to contact, get in touch with your local Revenue office.
As Personal Representative, you are responsible for settling any outstanding tax matters for the period up to the date of death. Depending on the circumstances, you may need to pay additional taxes or claim a repayment.
Remember that:
If the deceased person was self-employed, you will most likely get their accountant to file any outstanding Income Tax returns and business accounts with their Revenue office. As well as Income Tax, you will also need to ensure that any outstanding VAT, employer’s PAYE/USC/PRSI, or other taxes and levies in respect of the period up to the date of death are fully paid.
If the deceased person was an employee, there may be a PAYE tax rebate due, as their standard rate band and tax credits for the year of death may not have been fully utilised. The deceased person’s employer will send Form P45 to the Revenue office that dealt with their tax affairs. Any tax rebate will form part of the deceased person’s estate. As Personal Representative, it is your responsibility to file any outstanding tax return on behalf of the deceased person.
The Inland Revenue Affidavit is an account of the deceased person’s estate that has to be completed and sworn by the Personal Representative in order to get a Grant of Representation from the Probate Office.
The Inland Revenue Affidavit looks for:
To complete the Affidavit, you will need to establish whether the beneficiaries have received any other gifts or inheritances from within the same group threshold as that of the disponer at any time on or after 5 December 1991.
The Inland Revenue Affidavit is submitted directly to the Probate Office together with all other necessary documentation for the Grant of Representation in the deceased’s estate. When the Grant of Representation has issued, the Probate Office will send a copy of the documentation to Revenue, together with details of the Grant of Representation.
Please see booklet A Guide to Changes to Probate & Capital Gains Acquisitions Tax on our website.
It may take the Personal Representative some time to administer the estate during which time income may be earned or capital gains may be made. Broadly the position is as follows.
The Personal Representative is liable to pay Income Tax at the standard rate on income earned during the administration period. There is no entitlement to tax credits or to any of the reliefs otherwise available to individual taxpayers.
In certain circumstances, the Revenue office may concessionally agree to treat the beneficiary as succeeding to the inheritance from the date of death. In such circumstances, the beneficiary will take full responsibility for paying Income Tax on the post-death income as if he or she had been entitled to the asset - and the income - from the date of death.
Death does not give rise to a Capital Gains Tax liability. For example, if the deceased person bought shares for €12,700 and they were worth €19,050 at the date of death, the €6,350 capital gain is ignored.
If the Personal Representative sells, or otherwise disposes, of any asset during the administration period, there may be a liability to Capital Gains Tax - but only to the extent that the value of the asset in question has increased between the date of death and the date of sale. Following on from the example above, if the Personal Representative sells the shares during the administration period for €21,590, the relevant capital gain is only €2,540.
No chargeable gain accrues to the Personal Representative(s) on the transfer to a legatee of an asset bequeathed to him/her by the deceased.
Please note that the due date for the payment of Capital Gains Tax depends on the date of disposal. For disposals made from 1 January to 30 November, the tax is due by 15 December of that year, if the disposal takes place in December, the payment is due by 31 January of the following year.
In summary this is what you should do about Inheritance Tax - and when you should do it.
All inheritances with a valuation date in the twelve month period ending on the previous 31 August should be included in your return to be filed by 31 October. This means that where the valuation date arises between 1 January and 31 August, the pay and file date is 31 October in that year. Where the valuation date arises between 1 September and 31 December, the pay and file date is 31 October in the following year.
Example:- |
Valuation Date is 21 February 2012 – pay and file by 31 October 2012. |
Valuation Date is 6 November 2012 – pay and file by 31 October 2013. |
The valuation date is the date at which the assets are valued for Inheritance Tax purposes. The valuation date for assets passing under the will or intestacy is usually the date on which the Grant of Representation issues from the Probate Office or District Probate Registry. If assets are passing outside of the will or intestacy, the valuation date will normally be the deceased person’s date of death.
For further information about filing your return and paying your Inheritance Tax, please see IT39 - Guide to completing the IT38 return (Pay and File).
Inheritance Tax is a tax which can arise where a beneficiary receives an inheritance as a result of someone dying. The beneficiary is responsible for paying the tax. As outlined earlier, an inheritance can be taken under a will or intestacy - or in some other way, for example, where an asset in the joint names of the deceased person and another is taken, upon death, by that other person as survivor.
In this regard a distinction is made between surviving spouses or surviving civil partners and other beneficiaries.
If you are a surviving spouse or surviving civil partner taking an inheritance from your deceased spouse or civil partner, the inheritance, regardless of value, is completely exempt from Inheritance Tax.
In the case of other beneficiaries, whether or not Inheritance Tax may be payable depends on whether:
Appendix B, shows you how to work out the tax-free amount.
The following rates of Inheritance Tax apply to gifts and inheritances taken on or after 1 December 1999.
In addition to the exemption for a surviving spouse or surviving civil partner, there are a number of other important exemptions and reliefs available, including reliefs for agricultural and business property and exemption for certain dwelling-houses. Where agricultural or business relief applies, the market value of the property for Inheritance Tax purposes is substantially reduced by 90%. Where the dwelling-house exemption applies, the market value of the dwelling-house is completely exempt.
An asset will be liable to Irish inheritance tax:
This section gives an outline of the main tax exemptions and reliefs specifically for surviving spouses or surviving civil partners.
In summary these are:
These are explained in more detail below.
Note: As well as being a surviving spouse or surviving civil partner you may be a Personal Representative, a beneficiary, or a trustee of your late spouse’s or late civil partner’s estate, in which case you should consult sections 2, 3 or 5 of this leaflet as appropriate. |
If you take an inheritance from your late spouse or late civil partner you don’t have to pay Inheritance Tax on that inheritance. The exemption is unlimited - regardless of the value of the inheritance, it is entirely exempt. There is no necessity to claim this exemption and you are not required to submit any Inheritance Tax forms.
Your Income Tax treatment for the tax year (i.e. the year to 31 December) in which your spouse or civil partner has died will depend on how you and your spouse or civil partner were taxed before your spouse’s or civil partner’s death. Your Revenue office will help you to do the calculations and make sure you have the right tax credits. Broadly, the position is as follows:
If your late spouse or late civil partner was the “assessable spouse” or “nominated civil partner", i.e. the person responsible for making a joint tax return on behalf of both of you, then you will be entitled to an increased widowed person or surviving civil partner with qualifying child tax credit from the date of your spouse’s or civil partner’s death up to the following 31 December. The widowed person’s or surviving civil partner’s standard rate band (or increased rate band if you have dependent children - see 4.1.3) will apply for this period.
If you were the “assessable spouse” or “nominated civil partner", you will continue to get the married person’s or civil partner’s tax credit and appropriate married person’s or civil partner’s standard rate band for the remainder of the tax year. You will be taxable on your own income for the full tax year in which your spouse or civil partner died plus your late spouse’s or late civil partner’s income from 1 January to the date of death.
If you were both taxed as single persons, you will get the increased widowed person’s or surviving civil partner’s allowance and single person’s standard rate band for the year.
If you have any qualifying children you may be entitled to an Income Tax credit (called “widowed person” or “surviving civil partner with qualifying child” tax credit) for the 5 tax years after the year of your spouse’s or civil partner’s death. You may also be entitled to the “one-parent family tax credit” for as long as you have any qualifying children (for further details see Information Leaflet IT9 - One Parent Family Tax Credit).
Let the Revenue office know of your spouse’s or civil partner’s death as soon as you can. They will ask you for certain information - including the date of death, your late spouse’s or late civil partner’s Personal Public Service (PPS) number and the name of the Personal Representative. They will also need to make sure you are given your correct tax-credits and standard rate band. To do this they will need to know if you have any qualifying children and if you will be receiving a pension (either from The Department of Social Protection or from your late spouse’s or late civil partner’s employer).
If you do not have all the information when you are contacting the Revenue office, advise them of the details you do know. The Revenue office will request any outstanding details in due course.
In summary this is what you should do about tax - and when you should do it.
What to do about tax and when if you are a trustee
What you should do |
When |
|---|---|
Ensure that the deceased person’s Revenue office knows about the trust ( 5.1) |
As soon as you take over the trust property |
Make sure that tax is paid on any income or capital gains arising and file Tax Returns (Form 1) during the period when the trust is being administered (5.2/5.3) |
By the appropriate dates |
Pay any Capital Gains Tax arising on the appointment of trust assets to the beneficiaries |
By the appropriate dates |
If there is a Discretionary Trust, pay Discretionary Trust Tax as follows:
|
|
You should be aware that, in addition, the trustees have secondary liability for the payment of any Inheritance Tax due by a beneficiary as a result of the appointment of trust property to him or her. This means that if a beneficiary should fail to pay, the trustees will have to do so.
You should inform the deceased person’s Revenue office about the trust in case the Personal Representative has not already done so. This should be done when the Personal Representative passes the assets to be held on trust by you, as trustee under the terms of the will of the deceased person.
The income generated by assets left on trust is liable to Income Tax at the standard rate. Beneficiaries are taxed on income which is appointed to them and are entitled to a credit for the Income Tax paid by the trustees in respect of this income. Trustees should return income and charges on Form 1. Where income is not distributed by the trustees within 18 months of the end of the year of assessment there is a surcharge at the rate of 20% on this income.
No Capital Gains Tax arises when assets left on trust are transferred by the Personal Representative to the trustees. However, a subsequent sale of these assets by the trustees or their appointment to a beneficiary may give rise to a Capital Gains Tax liability. The tax is calculated by reference to the increase in the value of the asset between the date of death and the date of sale or appointment. Trustees should return Capital Gains on Form 1.
In the case of a discretionary trust, where there is no immediate benefit under the trust, the trust assets are subject to the following Discretionary Trust Tax charges:
However, where the deceased left young children as potential beneficiaries of the trust, the 6% and 1% charges will not arise until the youngest of these children reaches the age of 21 years.
There are a number of exemptions from the Discretionary Trust Tax charges - trusts set up exclusively for incapacitated persons, for public or charitable purposes or approved superannuation schemes.
Self-Assessment returns for the 6% and 1% Discretionary Trust Tax charges must be completed and sent, together with the tax due, to
The Revenue Commissioners,
Capital Acquisitions Tax Unit,
Block F, Athy Business Campus,
Castlecomer Road,
Athy,
Co. Kildare.
where all Discretionary Trust Cases are dealt with. If this is done within the time-limits specified above, no interest will be charged.
Group thresholds Applicable for Capital Acqusistions Tax
This appendix/section shows how to work out the tax-free amount referred to in 3.2.2. Essentially two situations are possible.
Note: Changes to the thresholds and rules for calculating the tax were introduced with effect from 5 December 1991 onwards. |
This situation is similar to that outlined above. It arises where the prior gift/inheritance, although taken on or after 5 December 1991, falls into a different group threshold to the current inheritance.
A separate threshold applies for each group and prior gifts/inheritances to which a different threshold applies are not taken into account when calculating the tax on the current inheritance.
Example |
Individual takes the following benefits:
|
The tax on the inheritance is calculated using the group A threshold and the prior gift is not taken into account. |
Example |
Assume individual takes the following benefits:
|
Only the gifts / inheritances in the same group are taken into account for the purpose of calculating the tax payable on the latest inheritance. The total taxable value of all gifts / inheritances to which the group B threshold applies is €74,930 (i.e. €31,750 + €17,780 + €25,400). |
The relevant tax-free amount to be used for this inheritance in the Table is the group B amount in 2011, i.e. €33,208. |
As the tax-free amount (€33,208) for the group B benefits is exceeded by the total value (€74,930) of the benefits in the group, tax may be due. |
When you file your return on ROS the Revenue Online Service, your Inheritance Tax will be calculated for you.
For more information about filing your return and paying your inheritance tax, please refer to the leaflet IT39 - Guide to completing the IT38 return (Pay and File).
Example 1 |
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Joint assessment where the deceased was the “Assessable Spouse or Nominated Civil Partner” |
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A married couple or civil partners are both working. They are taxed under joint assessment and the assessable spouse or nominated civil partner died on 12 June 2011 and has earned €25,000 between 1 January 2011 and the date of death. The non assessable spouse or civil partner has earned €10,000 between 1 January 2011 and the date of the assessable spouse’s or nominated civil partner’s death. He or she is expected to earn a further €9,000 between then and 31 December 2011. |
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Tax liability up to the date of assessable spouse’s or nominated civil partner’s death: |
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Assessable spouse’s or nominated civil partner’s income: |
€25,000 |
|
Non assessable spouse’s or civil partner’s income: |
€10,000 |
|
Total: |
€35,000 |
@ 20% = €7,000 |
Less |
||
Married Person or Civil Partner’s Tax Credit: |
€3,300 |
|
PAYE Tax Credit (1,650 × 2): |
€3,300 |
|
€6,600 |
||
Tax liability: |
€ 400 |
|
Universal Social Charge: |
||
Gross Income of assessable spouse or nominated civil partner: |
€25,000 |
|
€10,036 @ 2% = 200.72 |
||
€5,980 @ 4% = 239.20 |
||
€8,984 @ 7% = 628.88 |
€1,068.80 |
|
Gross Income of spouse or civil partner |
€10,000 |
|
€10,000 @ 2% = 200.00 |
€ 200.00 |
|
The married couple or civil partners may have paid more tax than this under the PAYE system. Whatever they paid over and above €400 will be refunded, provided there are no other arrears of tax outstanding.
The non assessable spouse or civil partner is entitled to the increased widowed person’s or surviving civil partner’s tax credit (€3,300) for the period 13 June 2011 to 31 December 2011 against the tax due on his or her expected earnings of €9,000 for the remainder of the tax year. He or she will also get the widowed person’s or surviving civil partner’s rate band.
Example 2 |
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Joint assessment where the Surviving Spouse or Surviving Civil Partner is the “Assessable Spouse or Nominated Civil Partner” |
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A married couple or civil partners are taxed under joint assessment. The non assessable spouse or civil partner died on 12 June 2011, having earned €9,600 from 1 January 2011 to the date of his or her death. The assessable spouse or nominated civil partner earns €25,400 for the year to 31 December 2011. The assessable spouse or nominated civil partner, is taxed on his or her own income for the tax year plus the non assessable spouse’s or civil partner’s income for the period to the date of his or her death. |
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The assessable spouse’s or nominated civil partner’s Liability for 2011 |
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Assessable spouse’s or nominated civil partner’s |
||
Liability: |
€25,400 |
|
Non assessable spouse’s or civil partner’s Income |
||
to date of death: |
€9,600 |
|
Total: |
€35,000 |
@ 20% = €7,000 |
Less |
||
Married Person or Civil Partner’s Tax Credit: |
€3,300 |
|
PAYE Tax Credit (1,650 × 2): |
€3,300 |
|
€6,600 |
||
Tax liability: |
€400 |
|
Universal Social Charge: |
||
Gross Income of assessable spouse or nominated civil partner: |
€25,400 |
|
€10,036 @ 2% = 200.72 |
||
€5,980 @ 4% = 239.20 |
||
€9,384 @ 7% = 656.88 |
€1,096.80 |
|
Gross Income of spouse or civil partner |
€9,600 |
|
€9,600 @ 2% = 192.00 |
€192.00 |
|
Here are further details of the Universal Social Charge. |
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Capital Acquisitions Tax
Reference |
Title |
|---|---|
CAT1 |
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CAT 2 |
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CAT 3 |
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CAT 4 |
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CAT 5 |
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CAT 8 |
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CAT 10 |
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CA25 |
A guide to completing the Inland Revenue Affidavit (Form CA 24) |
IT 39 |
Capital Gains Tax
Reference |
Title |
|---|---|
CGT 1 |
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CGT 2 |
Income Tax
Reference |
Title |
|---|---|
IT 1 |
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IT 2 |
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IT 6 |
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IT 8 |
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IT 9 |
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IT 10 |
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IT 11 |
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IT 40 |
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IT 45 |
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IT 46 |
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IT 67 |
First Job - A Guide for First Time Entrants to the PAYE Tax System |
Revenue Offices
Our tax and customs operations are primarily built around clearly defined regions each comprising a county or counties. Each region in turn is made up of a number of districts. Business customers have all of their tax and duty affairs dealt with in the district where the business is managed and controlled. PAYE customers are dealt with in the district where they reside. Company directors are assigned to the same district as the company in which the main directorship is held. Address details for all Revenue offices are available at Contact Details.
Capital Acquisitions Tax
National Service: (General CAT enquiries)
CAT Unit,
National Taxpayer Information Unit,
Dublin Region,
LoCall 1890 20 11 04
01 - 865 5000
LoCall phone service for general CAT queries
Forms and Leaflets Telephone service
(24 hours a day, 7 days a week) 1890 306 706 or +353 1 674 4050.
Please note that rates charged for the use of 1980 (LoCall) numbers may vary among different service providers. |
4 Year Time Limit
A claim for tax relief must be made within 4 years after the end of the tax year to which the claim relates.
Where can I get further information?
Further information concerning our rules, procedures and precedents can be found on our website in our Freedom of Information pages. You should also refer to the Forms section where relevant Tax Return Forms are available for downloading. In the Leaflets & Guides section you will find our leaflets and guides which will explain different aspects of tax in more detail. If you cannot find what you are looking for, we recommend that you use the Site Map or Search function. In the Contact Details section you will find a full up to date list of Revenue’s offices throughout the country together with addresses, telephone numbers, e-mail addresses and fax numbers.
Inrochtaineacht - Más duine thú atá faoi mhíchumas agus go dteastaíonn an bhileog seo uait i bhformáid eile, is féidir teagmháil a dhéanamh le hOifigeach Rochtana na gCoimisinéirí Ioncaim ag accessofficer@revenue.ie.
Glossary of terms used within this leaflet
Term |
Explanation |
|---|---|
Administrator: |
Person responsible for finalising a deceased’s affairs. |
Beneficiary: |
Person entitled to benefit, i.e. gift or inheritance. |
Codicil: |
An instrument executed by a testator for adding to, altering, explaining or confirming a will previously made by him/her. |
Death benefit: |
Monies payable on the death of a deceased e.g. superannuation, insurance policy, lump sum. |
Disponer: |
Person who provided the gift or inheritance. |
Estate: |
All assets, e.g. house, land, bank accounts, stocks & shares, livestock, jewellery, car etc. of a deceased person. |
Executor: |
Person authorised by a will to finalise a deceased person’s affairs and distribute his/her estate. The executor has authority to act from the date of death. Any other personal representative has authority to act only when a Grant of Administration is obtained. |
Grant of Probate: |
Grant of representation where there is a will. |
Grant of Representation: |
In order to obtain legal authority to administer a deceased person’s estate, the proposed personal representative must apply to the Probate Office/District Probate Registry (where applicable) for a document called a Grant of Representation. The Grant of Representation acts as an assurance to financial institutions (e.g. banks, building societies, credit unions, etc.) that they can safely place the deceased’s assets in the hands of the person named as personal representative in the grant. |
Inland Revenue Affidavit: |
An account of the deceased’s assets, liabilities, beneficiaries etc. |
Intestacy: |
Dying without leaving a will. |
Legacy: |
Personal property passing under a will. |
Letters of Administration: |
A grant of representation where no will exists. |
Nomination: |
Nominated property is any property which the deceased placed in the name of another person for their benefit on his/her death. Nominated property passes directly to that person in accordance with the rules/regulations under which it was invested and it does not pass to the deceased’s personal representative(s) to be distributed according to the will/intestacy. |
Personal representative: |
The person responsible for managing the deceased’s affairs. |
Power of attorney: |
A formal instrument by which one person empowers another to represent him/her to act on his/her behalf. |
Probate Office: |
An office within the Court Service under the jurisdiction of the High Court whose function is to prove wills and to issue Grants of Representation. |
Survivorship: |
The right of a person to property by reason of having survived another person who had an interest in it, e.g. on the death of a joint tenant, the survivor inherits the property. |
Strangers in blood: |
Persons who have no tie between them by blood or valid marriage. |
Tenancy in Common: |
Where two or more persons have a specific share in property. On the death of a tenant in common, his/her share does not pass automatically to the surviving tenant (as with a joint tenancy) but instead passes under the terms of the deceased’s will (if any) or by intestacy (if none). |
Testator: |
Person who makes a will. |
Trustee: |
Person who holds property on trust for another. |
Will: |
Declaration by which the person (testator) making it provides for the distribution of his/her property after his/her death. |
December 2012
PDF Version of IT41 - Bereavement – Tax Related Information
This Guide is intended to deal with tax related issues regarding bereavement in general terms. As such, it does not attempt to cover every issue which may arise on the subject. It does not purport to be a legal interpretation of the statutory provisions and consequently, responsibility cannot be accepted for any liability incurred or loss suffered as a result of relying on any matter published in it.