Skip to main content

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

  • Do I need to declare transfer of money ?

    I have a query regarding filling self assessment and money that needs to be excluded/or not required to be declared. In 2023 I was a student in Republic of Ireland and then later in July 2023 moved to UK for work. In time period whilst I was in UK and before I started my first Job in UK, I was financially supported by my parents. 1.In order to support me till I start earning I transferred money from my Indian savings account. 2.Some money, which I had as forex- given by my parents to me. which I deposited in the UK account too. 3. I closed my Irish student bank account had closing balance transferred to UK account too. 4.I had booked a temporary accommodation, which was paid for by my parents- but later we cancelled it and decided to get the refund in the UK account. Since July 2023 till now I am on PAYE status. I will be declaring the interest earned in my UK account I will also be declaring any foreign income earned on interest in my name. My question is do I need to declare the money associated with 4 points mentioned above ? As this was not income but merely transfer of money or financial assistance from my parents until I started earning.