Do I have to declare my young daughter's inheritance ?

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Stephanie.g

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Post by Stephanie.g » Thu Oct 09, 2014 9:13 pm
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Hi, what happens if my 8 year old daughter has received an inheritance of £8000, do I have to declare it?
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Foggy

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Post by Foggy » Thu Oct 09, 2014 9:15 pm
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As long as the inheritance is hers by name and goes into her account there will be no problem and it need not be declared.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Stephanie.g

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Post by Stephanie.g » Fri Oct 10, 2014 12:48 pm
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And could she spend it ?
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Foggy

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Post by Foggy » Fri Oct 10, 2014 1:05 pm
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I see no reason why not -- it is her money (parental controls allowing :-) )
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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mole

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Post by mole » Fri Oct 10, 2014 1:42 pm
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Fingers crossed she decides to send her parents on a nice holiday!
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