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My son is supplementing my income. His S O (£1500 per month)is

Answered by:Aston Lawyer
Solicitor
Positive Feedback: 100.0 %
Accepted Answers: 7

in UK Tax

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Customer Question

My son is supplementing my income. His S O (£1500 per month)is paid monthly
into my bank account after he has paid tax on it. Will I have to pay tax as though this were unearned income? How do I inform authority of this increase in my income?

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Province/Country relating to question : UK Inland Revenue

Already Tried:
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Submitted: 435 days and 1 hours ago.

Category: UK Tax

Value: £33

Status: CLOSED

Accepted Answer

Expert: Aston Lawyer replied 435 days ago.

Andy M :

Hi there

Andy M :

As your son has already declared and paid tax on this monthly sum, there is no further tax for you to declare/pay.

Andy M :

This is because the money you are receiving will be classed as a gift from your Son.

Andy M :

I hope this answers your question, but please let me if you require any further help.

Andy M :

Andy M

Expert Type	Solicitor
Category:	UK Tax
Pos. Feedback:	100.0 %
Accepts:	7
Answered:	2/15/2012

Experience: LLB(Hons) Property and Estates Solicitor with a breadth of experience in relevant tax issues

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