Tax issues

You can give a child or relative up to €3,000 a year tax-free towards college expenses.

“An individual can make gifts of €3,000 a year to anyone, and these sums are not included when calculating any subsequent gift tax – also known as capital acquisitions tax (CAT),” said Sandra Chambers, technical manager with the Irish Taxation Institute.

“For example, a parent can make gifts to a child but, once the parent/child threshold is ...