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Grandchildrens accounts

Whitecarstones · 2019-12-24 10:21:11

My parents want to open a savings account for my niece and nephew in the kids names. Their father is self employed. If he should get an audit, will his childrens accounts come into it? Not avoiding anything but just want to know all the facts before they proceed. Thanks

24-12-2019 10:21am

#1

Whitecarstones

Registered Users, Registered Users 2 Posts: 130 ✭✭

Join Date: August 2019

Posts: 80

My parents want to open a savings account for my niece and nephew in the kids names. Their father is self employed. If he should get an audit, will his childrens accounts come into it?

Not avoiding anything but just want to know all the facts before they proceed.

Thanks

0

Comments

#2 24-12-2019 12:05pm

homer911

Registered Users, Registered Users 2 Posts: 5,150 ✭✭✭

Join Date: September 2007

Posts: 4756

Simple answer is "No"

They should be aware of the annual CAT threshold of €3,000 and associated aggregation rules:
https://www.revenue.ie/en/gains-gifts-and-inheritance/cat-thresholds-rates-and-aggregation-rules/cat-thresholds.aspx

0
#3 24-12-2019 3:33pm

Whitecarstones

Registered Users, Registered Users 2 Posts: 130 ✭✭

Join Date: August 2019

Posts: 80

Thank you and Happy Christmas

homer911 wrote: »

Simple answer is "No"

They should be aware of the annual CAT threshold of €3,000 and associated aggregation rules:
https://www.revenue.ie/en/gains-gifts-and-inheritance/cat-thresholds-rates-and-aggregation-rules/cat-thresholds.aspx

0