Getting cash from parent staying with us
Postby mcgregor » Thu Feb 13, 2020 2:23 pm
We have an elderly parent (93) currently staying with us for a few months due to ill health. We don't charge him rent but every 2 or 3 months he gives us a cheque for £1000 as a contribution towards living costs. He has already given us £3000 within the annual "gift" allowance, but we are worried that these extra £1000 payments might be considered as income for us, and therefore be taxable. We are probably spending this amount of money from him in terms of food, utilities, fuel, etc but it would be impossible to quantify that. Does anybody know if this would indeed be deemed as taxable income by HMRC? And would we even need to declare it on self-assessment?