45AA Liability of certain persons in respect of non-resident beneficiaries

Summary

This section provides that the personal representatives or the solicitor required to be appointed to administer a deceased person’s estate, where the personal representatives are resident outside the State, will be liable to inheritance tax to the same extent as the non-resident beneficiaries.

Details

(1) The personal representatives or any of the personal representatives, where there is more than one, and a solicitor referred to in section 48(10) who is required to administer the estate of a deceased person where the personal representative(s) is/are not resident in the State will be liable to inheritance tax to the same extent as the beneficiaries, where such beneficiaries are not resident in the State.

(2) Subsection (1) will not apply where a liability to inheritance tax arises by virtue of the fact that a non-resident beneficiary has not disclosed that he or she has received a prior aggregable gift or inheritance and the personal representative or the solicitor referred to in section 48(10) has made reasonable enquiries regarding such gifts and inheritances and has acted in good faith.

(3) The personal representatives or the solicitor referred to in section 48(10) will be liable for the inheritance tax in respect of the non-resident beneficiaries to the extent that they have control of the property or would have control of such property but for their own neglect or default.

(4) The persons referred to in subsection (3) —

• will be entitled to retain so much of the property as may be required to pay the tax in respect of the non-resident beneficiaries, and
• will have the power, whether the property is or is not vested in that person, to raise the amount of such tax, and any expenses properly paid or incurred by those persons in respect of the raising the amount of such tax, by the sale or mortgage of, or a terminable charge on, that property or any part of that property.

Relevant Date: Finance Act 2015