I have two daughters. Let's call them Elder and Younger. Both are in their late 30's. Elder has ADHD, which has held her back a lot. She comes across as well spoken and articulate, but she has had a lot of bad luck with partners and with jobs, though she has held a steady temporary job for the past two years, and is seeking permanent employment with the organisation she is working for. She is single, and lodging, and just about getting through each month with not much left over. She has never been able to make any savings, and I have started paying her £3000/year, which is a tax-exempt amount, which she is putting into an ISA.
Younger has done quite well for herself, has a house, steady marriage, and a family. She is also paying £250/month to Elder, to be saved in her ISA. That should give Elder £3000 from me, and a further £3000 from her sister.
Does the tax-free ceiling of £3000 apply to the amount given, or does the tax authority see an income of £6000?
Does the amount need to be declared? If so, by whom - by the givers, or by the receiver, or by both?
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