Haydee Fayos
Joined: 11/8/2024
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Tax free loan between friends
Hi, I'm hoping to buy a house in Spain (I'm Spanish but UK resident and I pay my taxes in UK), and a friend has offered to lend me £15k to pay a deposit for the house in Spain. This loan is tax free and to be repaid in 6 months to his UK account. Do we need to declare it to HMRC?