This is how you should make a loan to a friend or relative without having to report to the Treasury

In a 2021 very marked by the economic crisis in many Spanish families, requesting a loan of money from an acquaintance has increased against banking options or credit institutions. However, it should be known that the Treasury always monitors these movements so that they do not fall into a money laundering operation.

Both to avoid future problems with returns that do not arrive as agreed, as well as to avoid having to report to the Tax Agency, any loan between family, friends or acquaintances must have a contract involved. This is recommended if you want to have the greatest possible security as well as not involve extra expenses, both for the person who lends the amount and for the person who receives it.

And it is that giving money without a legal argument in between is considered by the Treasury as a donation. For this reason, it should go through the Inheritance and Donations Tax, for which certain amounts would have to be paid according to the money lent.

In this way, with a contract involved, two individuals can undertake a loan legally and without having to go through a bank. A method that, yes, must be well argued, making the clauses in this regard clear at all times.

These are the sections that every loan contract between individuals must include

Starting from the essentials, identification data of both parties, in addition, the contract must specify the amount in a concrete way, who receives it, its purpose and its method of payment. It is also essential to include how the return will be and if it involves interest.

One last section that is also key before the Treasury since the interests between individuals do not entail taxes, they must be registered in the Liquidation of the Property Transfer Tax. This must be carried out by one of the two parties and within one month from the date of the contract.

All aspects that must be taken into account in this type of operation and that both for future problems between both parties and for the Treasury, it is convenient that there be a contract involved. A loan system that has been increased in recent months and that, yes, the Administration is always vigilant in the face of possible money laundering.