109 / 322
GAZETTE
APRIL. 1984
Why is
ourmanager's
dooralways
open?
Comment
(continued from p. 95)
The receipt of gifts or inheritances from Table 2
persons (brother, sister, uncle, aunt, child or grand-
parent) or Table 3 (from all more distant relationships
and strangers) may have a fatal effect on the
supposed
£150,000 threshold available to Table 1 gifts between
spouses.
The responsibilities of executors and trustees under the
new system will be extremely difficult because of their
secondary liability for the tax. They may have consider-
able difficulty in ascertaining what previous gifts or
inheritances legatees under the particular will or trust
with which they are concerned may have received and
may therefore be obliged to retain as much as 55% of the
legacies until certificates of discharge are available. The
fact that many of these will not issue until some time after
the valuation date of the gift or inheritance means that
legatees may have to be kept out of their legacies for
considerable periods.
The cost of administering taxation of this nature is
already seen to be excessive in relation to the returns to
the Revenue. These obligations on the ordinary house-
owning over-burdened tax payer will add a further
unnecessary expense to the burdens already being
imposed on that category of persons with little benefit to
the Revenue. It would be far better if the Revenue
resources were devoted to the investigation of deliberate
evasion and not to the monitoring of the records kept by
the more honest members of the community of modest
gifts or inheritances.
•
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ANSWER:
We could try to be funny
and say it was to let the bank drafts in.
But the truth is it's just the way we
operate. Personal, attentive service at all times.
Total access to the manager. Longer hours than
most banks. And higher interest on deposits.
They may sound like small things. But when
you add up the little things we do and most
banks don't, you'll understand why our
customers prefer
service to size.
LITTLE THfN6S
MEANA LOT
ANGLO IRISH BANK
18-21 St Stephen's Green, Dublin 2. Tel. (01) 763502
3 The Crescent, Limerick. Tel. 061-319522
GAZETTE B I NDERS
Binders which will hold 20 issues are available
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Price: £5.14 (incl. VAT) + 87p postage.
101