Spouses are exempt from Inheritance Tax. With effect from 5th December 2012 sons/daughters (to include adopted and step sons/daughters) and parents who take absolutely from a deceased child and foster son/daughter (who fill a certain criteria) are entitled to inherit €225,000 each before the 33% inheritance tax rate sets in. Parents/brothers/sisters/nieces/nephews/grandchildren and grandparents are entitled to inherit €30,150 before the 33% inheritance rate sets in and anyone else has a tax free allowance of €15,075.

However, if you inherited from a same class person since 5th December 1991 to date, that inheritance will be added to your current inheritance for the purpose of calculating the tax due.

Funeral and testamentary expenses can be offset against this liability.