In recent months, there has been a near clamour from government TDs for a significant reduction in inheritance tax. The actual proposal doing the rounds is for a doubling of the Class A capital acquisitions tax (CAT) threshold – the amount children, stepchildren and certain foster children can inherit tax-free from their parents – from €335,000 to €670,000. The core argument for the increase in the threshold and consequent reduction in the tax is that average house prices in Dublin and other cities are now well above €335,000 and children shouldn’t have to pay tax on a family home they…

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