Tax implications on a family loan

M

moreoran

Registered User
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We're about to change our car and our son is giving us a loan of 16k to help with the purchase. Our own money is temporarily tied up but we'll be able to pay him back by the end of the year.
Is there a tax implication for either him or us?
 
No.

In theory if it is interest free you would be treated as getting a gift of the interest. But as that would only be about €500 a year, it's well below the gift threshold.

Revenue is not interested in small transactions like this.

Brendan
 
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