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Gift income
mrmc_2
Posts: 2 Newbie
in Cutting tax
Hi,
I'm puzzled and unsure if I need to declare anything on my next tax from:
The situation: I'm EU national aged 20+ in full time education in the UK. My parents were keen on helping me with my cost so they given me £8000 on my bank account (within EU). I'm now using my foreign cards to pay for my bills or to take out money from cash machine. I'm also self-employed in the UK and I have students loans.
The question is: Do I need to declare anywhere the income of £8000 given by my parents? Last thing I want is to get in any troubles with tax...
Any advice is gladly appreciated!
Regards,
MC
I'm puzzled and unsure if I need to declare anything on my next tax from:
The situation: I'm EU national aged 20+ in full time education in the UK. My parents were keen on helping me with my cost so they given me £8000 on my bank account (within EU). I'm now using my foreign cards to pay for my bills or to take out money from cash machine. I'm also self-employed in the UK and I have students loans.
The question is: Do I need to declare anywhere the income of £8000 given by my parents? Last thing I want is to get in any troubles with tax...
Any advice is gladly appreciated!
Regards,
MC
0
Comments
-
No, you don't decalre the money from your parents - there is no gift tax in the UK.£705,000 raised by client groups in the past 18 mths :beer:0
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