IR Advice

Indy1000

Hi,

For the last 10 years I've been in a state of depression and I'm now wanting to get my life sorted out. Since I failed University my gf and parents have supported me financially. I've never been employed. I've never submitted any tax returns. I've not paid any NI. What worries me is I should have been declaring the money my parents have given me to pay for living expenses (via standing order).

My partner and I have decided the best thing for my future would be for me to try and start my own business. I've done a lot of learning in the past 10 years that will hopefully let me see past my shortcomings.

If anyone could advise me of the best thing to do I'd be eternally grateful. If I can get over this hurdle I think the rest might be ok.

Thanks.

Debt_Free_Chick

It sounds to me as though the money your parents have been providing is actually a gift - so you would have no need to declare it.

What do others think?

sarahlouise210

You do not need to declare this income - just concentrate on getting your life in order from this point on. When you decide on your busines venture inform HMRC - good luck..hope it works out for you.