Cash gift from parent

Hi, I'm disabled and my dad gave me a one-off cash gift of £2,000 towards buying a wheelchair. Would this be classed as income for the purposes of Working Tax Credit, and do I need to declare it on my annual tax credits review/renewal? Thanks,

Name removed .

Hi dizzyhedgehog,  

The answer is no, it is not classed as income it is a gift.

Thank you.


 

Thanks for clarifying that. :-)

Dear HMRC, My mother and I both are UK tax residents. My mother gave me £500,000 as a gift. Should I report this to HMRC? Thank you.

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 and Tax on dividends).  

Thank you.

From the case above, if the interests or dividends are generated from the cash gift given from the parent to the adult son, should these incomes generated from the cash gift shall reported by the parent or the adult son for tax purpose?

Hi,
This would be the son.
Thank you