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Parental gift

26/01/2018 13:06:34
How do you disclose a gift of money from parents on your tax return?
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Parental gift

26/01/2018 14:40:54
Hi,

The gift itself when you receive it is not taxable therefore you will not be required to include it on your tax return.

There are specific rules for your parents gifting you the money and Inheritance Tax. More information can be found here: https://www.gov.uk/inheritance-tax/gifts

If you or your parents would like to find out more, you can contact our Inheritance Tax help line on 0300 123 1072.

Thank you

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