Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Tue, 12 Nov 2024 01:59:12 GMT by Benji 86
Hello. My household are in receipt of Universal Credit with savings below £6000. A close family member - my mother - that does not live with us, has gifted me with £500 as a Christmas present. I would need to deposit this into my bank account as I do not like keeping money in the house. I will also be gifting this to my spouse to clear any credit card debts they have in which they will in turn pay me back interest free over the course of the next year in small installments. Do I need to declare this large sum (well large to us, anyway), and will this impact our Universal Credit claim? Kind regards.
Posted Tue, 12 Nov 2024 09:34:48 GMT by HMRC Admin 34 Response
Hi,
Sorry, we can only answer HMRC questions on this forum.
Please contact the DWP for advice.
Thank you.

You must be signed in to post in this forum.