Tax change to see clampdown on bank of Mum and Dad

Tax change to see clampdown on bank of Mum and Dad

Parents may think twice about offering an interest-free loan to their offspring to fund a house purchase or renovation from January 2022, following a move in the recent Finance Bill.

The proposal means that loans within a family on which no interest is charged will be treated as a greater taxable benefit; this benefit will also become more complex to calculate. In addition, the amendment may affect families that already have such arrangements in place.

Please subscribe or
sign in to continue reading.

You’ve reached an article that is only available to Irish Times subscribers.

Subscribe today and get the full picture for just €1 for the first month.

Subscribe
No obligation, cancel any time.

Already a subscriber? Sign In

Read More

No Comments Yet

Leave a Reply

Your email address will not be published.