A. Under Capital Acquisitions Tax (CAT) rules the first €3,000 taken by each of your grandchildren from you in any calendar year will not be liable for tax in that year and also will not be taken in to account in any CAT computation in future years.
Therefore if you were planning to gift them an amount in excess of €3,000 it would be advisable to spread this gift out over a number of years in order to avail of this small gift exemption.
It should also be noted that this exemption applies only to gifts and not to inheritances.
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