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paying mortgage off
acazzer
Posts: 1 Newbie
hi all,can anyone tell me are there any tax implications if my bro pays off my mortgage ( £25000) and i pay him back interest free
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hi all,can anyone tell me are there any tax implications if my bro pays off my mortgage ( £25000) and i pay him back interest free
Depends how you want to declare it I guess. If its a 'gift' that you happen to pay back I can't see the problem, although if it was a gift you wouldn't have any legal obligation to pay him back. He's not making any profit so I doubt he'd be taxed.0
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