In the past, inheritance tax (capital acquisitions tax – CAT) was seen by many as a tax on wealth (and the very wealthy) – but this has now changed. CAT now affects a much greater number of people as the current thresholds now capture more people. The tax bill suffered by beneficiaries may be quite substantial depending on:

  • The relationship between the beneficiary of the estate and the deceased
  • The net value of the inheritances received by each beneficiary, and
  • Any previous gifts/inheritances received. The different groups are as follows:

Group A

Son / Daughter



Group B

Parent / Brother / Sister / Niece

Nephew / Grandchild / Grandparent


Group C

Everybody Else


The remaining balance is taxed at 33%. Inheritance Tax can be offset with a specific life assurance policy where the proceeds are used to pay the Inheritance Tax bill. As this policy is set up in trust for your beneficiaries, to cover the inheritance tax liability, it allows the proceeds to be exempt when the estates ‘worth’ is being calculated. Cantwell Financial Advisors Ltd will go through all aspects of your liability and advice you on the best ‘estate planning’ which can be put in place

Inheritance Tax Liability Calculator


Please Note: The calculator and all of the illustrative figures are provided by Friends First and are estimates only. It has been designed to provide guideline indicators on your pension requirements. It is recommended that you speak to your broker before buying any financial product.”