Penalty Points for Speeding

The recent Garda Scandal regarding speeding convictions and penalty points in cases where no fixed charge notice issued has shocked us all.   The imposition of Penalty Points can result in increased Insurance Premiums and in some cases even the loss of a Drivers Licence. 

If you have been convicted and suffered increased penalty points without first having received a fixed penalty notice please contact us for advice.  If you are appealing you conviction it will be important to do so as soon as possible, delays can negatively affect you appeal and while the conviction and penalty points remain in force you may continue to pay increased insurance premiums.  Please email us on mail@reganmcentee.ie  

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Dwelling house Relief changes

Section 86 of the CAT Act 2003 provides that INHERITANCES of a dwelling house taken on or after 25 December 2016 will be exempt from capital acquisitions tax provided a number conditions are satisfied;

- The donor must have occupied the dwelling house as his only or main residence at his date of death. This condition will be relaxed in siuations where the deceased person had to leave because of ill health, eg to live in a nursing home

- The beneficiary must have continuously occupied the dwelling house as his only or main residence for a period of 3 years immediately before the date of the inheritance

- The beneficiary must not be entitled to an interest in any other dwelling house at the date of the inheritance and

- the beneficiary must continue to occupy the dwelling house (except where over 65) as his only or main residence for a period of 6 years from the date of inheritance.

The exemption also applies to residential properties that are GIFTED to a DEPENDENT RELATIVE of the donor. In this case the dwelling house is not required to have been the principal private residence of the donor.

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Water Charges

Section 47 of the Environment (Miscellaneous Provisions) Act 2015 obliges an owner of a dwelling to register with Irish Water or if not in occupation notify Irish Water that he is not the occupier and provide details (the date of commencement of any agreement for the occupation of the dwelling, and the name of each person with whom the owner has such an agreement for occupation) within 20 days of any change in occupation of the dwelling

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CAT Thresholds 2017

CAT Thresholds 2017
Group A: €310,000.00
Group B: € 32,500.00
Group C: €16,250.00

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Finance Bill 2014 - Agricultural Taxation Measures

The Finance Bill 2014 gives clarity to a number of key agricultural taxation measures announced as part of the Agri-Taxation Review launched early in 2014.

Measures include;

- Changes to CAT agricultural relief are designed to encourage land to be farmed to maximise potential

- Various measures were announced in the Budget to make long-term leasing of land more attractive

- In order to claim CGT retirmement relief, the person transferring the land must be 55 years of age or over and have owned and farmed the land for ten years prior to transfter

- Consangunity relief is being extended, but limited to transfers of farmland between 1 January 2015 and 31 December 2017 by individuals ages 65 years or under to active farmers.

If you are considering transferrring property to any family Member, please contact Anthony Murphy, Conveyancing Partner or any Member of our Conveyanicng Team.

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€3,300 for the Meath Branch of the Alzheimer Society

€3,300 for the Meath Branch of the Alzheimer Society

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