0 thoughts on “Follow up tax question

  • Duncan

    Gifts are generally exempt from tax eg you do not have to declare £20 your mate gave you on your birthday.

    However, the rules change depending on the size and the giver. Eg your employer could not pay you £100 a year and give you a £15,000 “gift” to avoid tax.

    So, as the tax advisors always say to me, “it depends”.