How to exploit loans between family members to obtain new liquidity without incurring the attention of the Revenue Agency: is it possible? First of all, it must be specified that this kind of financing is perfectly legal, despite the fact that they can attract more in-depth checks by the tax authorities, if not carried out correctly. Furthermore, it is a very useful solution for those who immediately need a certain amount of money for any use: pay medical expenses, buy a vehicle, finance their studies. These are some examples of needs that can push a citizen to apply for a loan from a family member.
Why go to a family member for a loan and not request a personal loan for example?
The main reason may be that you are tied to this person by a relationship of trust so strong as to facilitate agreement on the terms of the loan. Moreover, another aspect not to be underestimated is the access to other forms of credit: if a person cannot request a loan from a bank and is in difficulty to find a loan even in its facilitated forms, the family becomes a fundamental resource . Those who find themselves in this condition can be a bad payer, ie a user reported as unreliable for not having repaid a previous loan, or simply cannot present sufficient guarantees to convince a bank to pay the desired amount.
However, all this must not lead us to believe that loans between relatives are without rules and conditions
At the base there is in fact always an agreement between the parties, which determines the conditions of the financing. Obviously these conditions can be advantageous: often these money transfers fall into the category of non-interest-bearing loans, which do not require the payment of an interest rate to the creditor.
However, it is always good that the agreement is sanctioned by a private agreement, which clearly describes the conditions of the loan and other fundamental information, such as the personal details of the parties, the tax code, the methods and deadlines for repayment, the reason for the loan and any other clauses envisaged between the parties, such as penalties for late payment or interest. All the pages must then be signed, also certifying the date of the signature with the stamp of a Post Office. All this is necessary so that the Fisco does not consider a loan between relatives as an undeclared income, on which to impose a sanction, after the new rules on anti-money laundering have tightened controls on income on current accounts: it is therefore necessary to register the private agreement of loans between family members at the Inland Revenue or exchange it by registered letter with return receipt.