Repay loan as sole trader?

[Damien logan]

Hi,

Wondering if someone could help please.
I lent my wife - who is a sole trader- money to do a digital marketing course for her business. She now wants to repay me but we are wondering if there is a tax implication in doing so?
Ideally I would like a straight transfer into my account for the full amount.
Thanks in advance
Damien

 

[Joe_90]

You old romantic you!!

If she is repaying a loan then there is not tax liability.

There is a deemed gift to her for the free use of money but as she is your wife it's exempt from CAT.

 

[44brendan]

Ideally I would like a straight transfer into my account for the full amount.

Let us know how you get on! I might try this with the wife myself

 

[Damien logan]

Thanks guys - music to me ears! I'll use the money to retrospectively buy her something nice (but not too expensive) for valentines day!