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  • FIRST POST
    imphilok
    Inheritance! Do I have to declare it in my tax return
    • #1
    • 20th Apr 10, 7:08 PM
    Inheritance! Do I have to declare it in my tax return 20th Apr 10 at 7:08 PM
    Hello

    I hope this is in the right thread.

    My wife and I are both self employed.

    During the last financial year end 2010 beginning April we recieved an inheritance of approx 23000 cash.

    Questions

    Does one of us or both of us have to declare this amount in our tax return forms?

    My wife also won an out of court settlement from her ex employer.
    Does she have to add this to her figures as some form of income on her form?

    We also recieve a small amount form tax credits (we have one child).
    Do we have to declare this money we recieved to them?

    Thanks
    imphilok
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