Peter Melchizedek
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RE: cash gift
Hi there, I am a retired 70-year-old man, UK resident. I fill in a self-assessment tax return for some small rental income every year. I am now a writer without charging or receiving any personal remunerations for ANY work or service I provide, but I do receive from time to time a voluntary Love Gift or a Gesture of Goodwill from people who are in appreciation of me sharing my writings. While I have been including these Love Gifts, cash (Paypal) money (nearly totally from overseas) in my yearly tax returns never yet going over my £12,560 within that no-tax thresh-hold. My question is; as I have not heard of this Free Love Gift as a non-Taxable Status before, if my Love Gifts take me over my thresh-hold as aforementioned, do I have the declare these sorts of small cash gifts at all? The point is, these receipts are therefore, not for personal use, but I do turn them back into the Community as well as expanding the public arena for which I wish to share. So NONE of these receipts are for personal use or placed into any Bank, Savings accounts, or any other investment location, which may, earn dividends or interest. In short, these Gifts are never of any amounts that see them hover much over the red/Black line of credit status. Can someone please shed some specific Light on my Tax Position in relation to what I have shared above? Many Thanks Melek