The OP's mother should also sign and date this document. It should also be time-stamped. The easiest way to do this is to email a copy of it to yourself.Just give your mother a loan and do up a note that it is a loan and interest-free. Just to clarify that it is not a gift in case your mother dies before it is repaid.
Revenue are aiming to tighten the net on inter family loans.Revenue has no interest at all in small family transactions like this.
In a roundabout way you’ve answered your own question.Why does a family loan need interest? A loan is an amount that is paid back irrespective of interest (or none) applied is it not?
A gift is completely separate as there is no expectation or intention of it being paid back.
So does a mere statement ‘it’s a loan’ with an expectation it is paid backIn a roundabout way you’ve answered your own question.
Charging of interest proves it’s not a gift.
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