The other main exemptions from capital acquisitions tax are:

Capital acquisitions tax is charged to the recipient of gifts or inheritances, at the rate of 25% above a tax-free threshold.

Increase the current rate of Capital Acquisitions Tax from 25 percent to 30 percent after Budget Day.

Capital acquisitions tax (CAT)

Mr Carr also deplored the effect of Capital Acquisitions Tax (CAT).

He immediately set about dismantling the previous government's capital taxation programme while also abolishing the wealth tax and diluting the capital gains and capital acquisitions taxes.