To declare to WTC?

Lovelamour

Do you have to declare gifts of money from a parent to HMRC?

t0rt0ise

I believe the limit is £250 in any tax year below which it is ignored.

Lovelamour

Is it classed as income then? A family member wrote me a cheque for a holiday they are paying for that we are going on together as I made the booking in my name. I dont receive an awful lot of WTC (and actually dont qualify for anything this year I dont think so am keeping all money to give back as I think salaries are going to be too high) but even so surely this doesnt count as income?

Lovelamour

I have since read that you don't need to declare savings, or money gifts received for WTC or CTC only if you receive other benefits such as JSA. You do however have to declare anything over £300 in interest received on savings. Assume what I have received is correct? If anyone could help?

joyfull

Hi, I asked a similar question a couple of years ago and got the following answers. A gift of money from a parent does not count as income for TC purposes. See links -

https://forums.moneysavingexpert.com/discussion/1432499

https://forums.moneysavingexpert.com/discussion/1431281

zagfles

Lovelamour wrote: »

I have since read that you don't need to declare savings, or money gifts received for WTC or CTC only if you receive other benefits such as JSA. You do however have to declare anything over £300 in interest received on savings. Assume what I have received is correct? If anyone could help?

That's right.