The loan of money to friends and relatives without problems with the tax authorities

The loan of money to friends and relatives without problems with the tax authorities

The loan of money to friends and relatives must be accompanied by appropriate precautions to avoid problems with the tax authorities.

Obviously we are not talking about those small amounts that can be withdrawn at an ATM and that can solve a small daily need. Let’s talk, for example, about helping a child to buy a car in order to accept his first job. This is a figure that involves a banking movement, which leaves a trace and which you may have to justify to the Revenue Agency.

We suggest you to write a private agreement. It is a simple written declaration in which to indicate the parties, the amount lent and the reason for the loan itself. If you want it to serve you tomorrow, you have to give it a certain date. It is not enough to write the date at the bottom, because you may have written it after having received the request for clarification from the Revenue Agency and having backdated the writing.

The loan of money to friends and relatives without problems with the tax authorities

We suggest how to give a certain date to your private writing. We do not suggest you to go to a notary because the fee for this simple fulfillment could be disproportionate to the sum lent.

Here are three simple low-cost methods

a) If father and son have PEC, they can send the private writing, and the relative acceptance message, by PEC. As known, this particular e-mail has the characteristic of giving certain dates to messages;

b) there are also online date validation systems. They are expected from EU Regulation n. 910/2014 cd eIDAS (electronic Identification Authentication and Signaturis). You must upload your writing in PDF format on the specific site, which will affix the certain date in the form of a QR code;

c) if you are not technological you can write your writing on a simple sheet of paper, then folding it into 3 parts, with the writing facing inwards. On the outside, white, write the recipient’s address and then fill in the postcard for sending by registered mail. Your folded sheet will be used by the Post Office as an envelope on which to attach the barcode for sending the registered letter. In this way you will have a certain date of dispatch, and when the delivery card from the registered letter is returned to you, the date of receipt by the recipient will also be certain.

We recommend that you do not put the private deed in an envelope, because the Revenue Agency may object that there is no certainty of what was contained in the envelope. In practice, the envelope of the registered letter would have a certain date, but not the writing inside. If you choose this method it is really important that you use the so-called recommended envelope: precisely the writing itself folded and stapled. In this way the act itself acts as an envelope.

The most immediate and practicable method seems to us that of the registered mail or the certified e-mail if both the sender and the recipient are provided.

The loan of money to friends and relatives without problems with the tax authorities

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