We are receiving a loan from my partner's mother of 75k for a deposit on a house. This will be repaid at 6000euro pa to take advantage of the small gift exemption.
I've been trying to find what the lowest fair rate of interest would be to ensure the loan is not considered interest free and therefore a gift. Could you say 0% in today's climate due to ECB rate of less than 0%?
I found this on revenues misc notes on CAT but it is not clear to me what this means:
I've been trying to find what the lowest fair rate of interest would be to ensure the loan is not considered interest free and therefore a gift. Could you say 0% in today's climate due to ECB rate of less than 0%?
I found this on revenues misc notes on CAT but it is not clear to me what this means: