regular Gifts from my husband’s income

Should I include regular gifts I receive from my husband’s savings income in my own declaration of savings income? He is retired and lives off interest from investments which he declares on his tax return . I have been self employed for 40 years but was taken off self assessment Jan 2023 by HMRC when my earnings stopped. I have had no other income and the total of my own savings interest and my husband’s monthly gifts is less than £9000 p.a for 2022-23 so do I pay tax on anything above £5000 savings allowance plus £1000 PSA?

Hi,

There are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.

These would then potentially be subject to tax.

Further guidance can be found here:

Tax on savings interest

Tax on dividends

Thank you.