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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33506
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My belated father left me a pension which I transferred into

Resolved Question:

My belated father left me a pension which I transferred into daughter who is 8 . Do I declare as income ?
Submitted: 9 months ago.
Category: Law
Expert:  Clare replied 9 months ago.
HiThank you for your questionMy name is ***** ***** do my best to help you but I need some further information firstCould you explain a little more about what has actually happened?
Customer: replied 9 months ago.
My dad left me his pension and I get it for a couple of years I decided to give and sign into my daughter name and it goes into her bank . Do I need to declare it as an earning I think I don't as I gifted it to her but I want to check . Thanks
Expert:  Clare replied 9 months ago.
How much does she receive?
Customer: replied 9 months ago.
314.00 a month .
Expert:  Clare replied 9 months ago.
I take it it is being saved and not spent?
Customer: replied 9 months ago.
Would it mattered it were spent ?
Expert:  Clare replied 9 months ago.
Yes because then there is no basis on which it would be accepted that this is your daughter's income and not yours.What is the position?
Customer: replied 9 months ago.
What do you mean my position ?
Expert:  Clare replied 9 months ago.
Is it being spent or saved for your daughter?
Customer: replied 9 months ago.
we save it
Expert:  Clare replied 9 months ago.
Just to check - there is no tax deducted at source?
Customer: replied 9 months ago.
No no tax is deducted
Customer: replied 9 months ago.
all I paid for were to see if it's classed as an income and there is so many questions hete
Customer: replied 9 months ago.
I wouldn't off joined if I knew I were goi g to be asked so many questions .
Expert:  Clare replied 8 months ago.
My apologies - had we been speaking it would have only taken a few minutes - it is one of the problems of this kind of forumThis income does have to be declared.Assuming that you have completed all the paperwork with the Pension Company appointing your daughter as the Beneficiary then you will have to submit a Tax return on her behalf.She gets a full personal allowance so all should be well.If however all you have done is given the Pension Company her Bank Account details then it still counts as your incomePlease ask if you need further detailsClare
Clare, Solicitor
Category: Law
Satisfied Customers: 33506
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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