We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
tax on gifts
sandyjacqueline
Posts: 1 Newbie
My son is self-employed and ended up with a big overdraft. We're trying to help him out with giving him cash gifts for his birthday and Xmas to get down his overdraft. Can you advise whether he will be taxed on this as income as it will appear on his bank statement as an inward payment?
0
Comments
-
No he will not be taxed on it.I am not a cat (But my friend is)0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.3K Banking & Borrowing
- 254.7K Reduce Debt & Boost Income
- 455.9K Spending & Discounts
- 248K Work, Benefits & Business
- 605.2K Mortgages, Homes & Bills
- 178.9K Life & Family
- 263K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards