Completing your gift or inheritance tax return (IT38)

Filing obligations for beneficiaries

There are three different tax free group thresholds. These thresholds depend on your relationship to the person making the gift or inheritance. You must pay tax when the total taxable value of all gifts or inheritances received within any one group exceeds that threshold.

If the total taxable value of your gifts and inheritances exceeds 80% of the relevant group threshold, you must file an IT38 return.

This obligation applies even though you may not have a Capital Acquisitions Tax (CAT) liability.  

To calculate if you have reached 80% of the threshold, include all gifts and inheritances received since 5 December 1991.

If you have reached 80% of your group threshold, use myAccount or Revenue Online Services (ROS) to complete and submit your IT38 return.

If you are claiming agricultural relief or business relief on a gift or inheritance, then you must file a CAT return. This applies even if the total taxable value of previous benefits when added to the taxable value of the current benefit qualifying for the relief, does not exceed 80% of the relevant threshold. 

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