What is the rate of the Transfer Tax on Death?
For persons who died between 1st of May 1974 and 31st , May 2005, the rate of tax is 15% of the market value of property (less mortgages or charges on property & funeral expenses). In respect of persons who died between 1st of June 2005 and April 2008 the rate is 7.5 %. For persons who died between May 2008 and December 2008 the rate is 6%. On January 1, 2009 the rate was reduced to 5% and again on August 1, 2009 to 4%. Additionally, interest at the rate of 6% will accrue if the tax is not paid within 1 year of the date of death.
