I want to give a small gift (under €3k) to two of my nephews. Do I have to declare this payment anywhere and similarly do my nephews need to declare it?
But if you were going to do this on a regular basis, you might be advised to keep a written record of all such gifts (in case a Revenue query ever arose under CAT).
But if you were going to do this on a regular basis, you might be advised to keep a written record of all such gifts (in case a Revenue query ever arose under CAT).
Does it matter if your niece/nephew are under-18 when you gift them €3,000?
Secondly, can I deposit this into their parents bank account (referencing niece/nephew name)?
If this was acceptable, and to keep everything above board, I would then create a short written record of the gift, sign it and scan a copy to my email?
In light of this case it would appear that it would be necessary to open accounts in the children's names to avoid any problems. It also sounds much simpler than the course of action that you mention above.