Valuation date and the value of benefits

Overview

If you receive a gift or an inheritance, you may have to file a Form IT38 return and pay Capital Acquisitions Tax (CAT). In some circumstances, you may have an obligation to file a Form IT38 even though you do not have a CAT liability. For further information on filing obligations see Completing your Gift or inheritance Tax return (IT38).

You must calculate the taxable value of your gift or inheritance to determine if any CAT is due and if you need to file a Form IT38.

Note

If you are claiming agricultural or business relief you must file a Form IT38 regardless of the taxable value of your gift or inheritance. This may also apply if you receive a gift or certain family loans.

The taxable value is the amount on which you pay CAT, after any available group thresholds, reliefs or exemptions are applied. 

The valuation date is the date on which the taxable value of a gift or inheritance is established for CAT purposes.

You can find more details on CAT in the Gift and Inheritance Tax section.

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Published: 02 September 2026 Print this page

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