While Gift / Inheritance Tax (CAT) returns are due by 31 October 2020, there has been an extended ROS pay and file deadline for a number of years. The ROS deadline has been extended by Revenue from 12 November 2020 to Thursday 10 December 2020. This is only if that the payment and the return are both made online.
CAT returns need to be filed by 31 October 2020 if
- payments are to be made by cheque or bank draft
- if a return must be filed but no tax arises; or
- if tax is paid in advance of filing the return.
The 2019/2020 CAT year ended on 31 August 2020 and if a CAT valuation date arose in the period from 01 September 2019 to 31 August 2020, the CAT pay & file deadline is 31 October 2020.
If a disponer died towards the end of the CAT year (31 August 2020), it may be the case that there is a benefit passing with a date of death valuation date (e.g. joint property, expiry of a life interest, property taken into possession by a beneficiary), in which case any CAT payable will be due this October (with the extension for pay and file). If a Grant of Representation (Probate or Administration) issued in the period 1 September 2019 to 31 August 2020, the beneficiaries should be advised of the imminent pay and file deadline if there is a likelihood that the valuation date most appropriate is the date of the Grant.
