Owen McGee

speaker

1,739 appearances 11 recordings 2 series first heard May 2026 last heard 2d ago

Owen McGee’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 11 in all, peaking in Sep 2026 with 3.

Appearances

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Today with David McCullagh · Eoin McGee answers your money questions · 22 Sep 2026 podcast

So the rule around this is you're absolutely entitled to give somebody a loan. voice-verified

And if it's a genuine loan and they're genuinely paying it back, there's no problem from a revenue perspective, from a gift tax perspective. voice-verified

A couple of things that you do need to consider, though. voice-verified

Revenue do look at it and say, what could you, let's call it 50,000 to keep the numbers around. voice-verified

What could you have got on deposit for that? voice-verified

Okay, so if you put that money on deposit, what interest rate would you get it? voice-verified

And I'm totally making this up. voice-verified

Let's say it's 2% to keep the math simple. voice-verified

So potentially on that, you should be getting 2% a year on it. voice-verified

And therefore... voice-verified

the fact that you're giving it away, your niece would be required to either pay that back or to receive it as a gift. voice-verified

Okay? voice-verified

So, in this case, it would be 1,000 euros a year would be the interest on it. voice-verified

And if your niece decides to pay interest on top at at least that rate, well, then there's no tax implications whatsoever. voice-verified

If you decide to forego the interest and just get her to pay back the capital, well, then that 1,000 euros is seen as a gift from you to her on a year-to-year basis. voice-verified

But voice-verified

The other thing on the other side is, is any person in the state can give anybody else in the state €3,000 in any given year. voice-verified

So that €1,000 that she effectively owes you can be forgiven by you using the €3,000 allowance. voice-verified

The important thing here is documentation, right? voice-verified

Family loans often seem very attractive. voice-verified

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