My wife and I are in a fortunate position to have been offered a loan of €100,000 from my parents. We have our own house but are thinking of renovating.

I have seen you previously said that Revenue view this as either (a) no interest was charged and the interest is therefore a gift to you, or (b) the interest that should have been charged was taxable income for them. The small gift exemption from both my parents equates to €6,000: this covers any issues re interest!

We have a loan document drawn up and the four of us will sign it for clarification if Revenue and/or the bank come looking. For argument’s sake, if we pay €6,000 a year back over 17 years, are we covered with the small gift exemption of €3,000 per year per parent?

Can my parents authorise their bank to transfer the “loan” to our

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