MidlifeCrisis
Registered User
- Messages
- 18
Hi,
I was wondering about my situation with regards to joint accounts. I hold a joint current account with my mum.
My mum needs to go into a Nursing Home and I am applying for the Fair Deal Scheme.
It's looking like it will cost mum 600 euro a week.
If I pay mum's fees from my sole account, then as I pay the higher rate of tax, that I can get tax relief of 40% on that amount?
Would it be ok to then transfer the net amount of money I pay each month from the joint account to my sole account?
I just wanted to be sure there weren't tax issues with this.
Thanks in advance for any insight.
I was wondering about my situation with regards to joint accounts. I hold a joint current account with my mum.
My mum needs to go into a Nursing Home and I am applying for the Fair Deal Scheme.
It's looking like it will cost mum 600 euro a week.
If I pay mum's fees from my sole account, then as I pay the higher rate of tax, that I can get tax relief of 40% on that amount?
Would it be ok to then transfer the net amount of money I pay each month from the joint account to my sole account?
I just wanted to be sure there weren't tax issues with this.
Thanks in advance for any insight.