UC Gift Allowance

Deadlypool

I've had a look around and been unable to find anything like my specific issue.

We've had a UC review this week, and when the work coach discovered that my parents are regularly sending me money, they warned that I might go over the "£3,500 gift allowance", then requested more bank statements to run the numbers.

This is the first I've heard about a gift allowance, but apparently if I receive over £3,500 per year it is "undeclared income", so I have to tell them about it.

It won't go over that amount, but it's given me concerns about them sending my kids money for Christmas via my bank account, or if I ask them for a loan to get the car repaired, etc.

Does anyone have information about this gift allowance? Is it £3,500 per claim, or per person?

sammyjammy

There is no such thing, they can gift you as much as they want as long as you declare everything you have in your accounts over £5,999 at the end of each assessment period.

In general its not the best idea for money that is going to be passed onto someone else goes through your own bank account.

marcia_

Deadlypool said:

I've had a look around and been unable to find anything like my specific issue.

We've had a UC review this week, and when the work coach discovered that my parents are regularly sending me money, they warned that I might go over the "£3,500 gift allowance", then requested more bank statements to run the numbers.

This is the first I've heard about a gift allowance, but apparently if I receive over £3,500 per year it is "undeclared income", so I have to tell them about it.

It won't go over that amount, but it's given me concerns about them sending my kids money for Christmas via my bank account, or if I ask them for a loan to get the car repaired, etc.

Does anyone have information about this gift allowance? Is it £3,500 per claim, or per person?

 This is the only gift allowance which is your parents concern not yours https://www.gov.uk/inheritance-tax/gifts

 Never heard of gifted money being classed as income. Maybe other posters have. 
 

Newcad

I'm wondering if this is a misunderstanding and that the question is about Capital not Income?

A sudden input (gift) of £3.5K might easily take your capital  over the £6k capital allowed before IR benefits are reduced. (or even over the £16K that ends entitlement to IR benefits).

@deadlypool how much do you currently have in Capital/Savings?

Deadlypool

Newcad said:

I'm wondering if this is a misunderstanding and that the question is about Capital not Income?

A sudden input (gift) of £3.5K might easily take your capital  over the £6k capital allowed before IR benefits are reduced. (or even over the £16K that ends entitlement to IR benefits).

@deadlypool how much do you currently have in Capital/Savings?

Nowhere near £3K.