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Gifts from Surplus Income

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Comments

  • phlebas192
    phlebas192 Posts: 313
    Third Anniversary 100 Posts Name Dropper
    Forumite

    The legislation refers to "[the gift] was made as part of the normal expenditure of the transferor". A large one off gift for a specific purpose is not likely to be viewed as part of your normal expenditure and following it up with much smaller amounts is not going to retrospectively make it so.

    Variable amounts are allowed because income can be variable and hence available expenditure is also variable. If you establish a pattern of gifting your son the same percentage of your OH's annual bonus as the initial gift then that would be fine.

  • silvercar
    silvercar Posts: 51,437
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Ambassador

    Numerically that may work, the bonus was a one off due to the reward of many years work coming to fruition.

    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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