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”.
tis is sent from apple shop arndale hello there
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”.