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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4972
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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my employer will give me money as agift to help me buy a house.

Resolved Question:

my employer will give me money as agift to help me buy a house. is this taxable?
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

Please advise under what circumstances your employer wishes to gift you the money.

Many thanks
Customer: replied 2 years ago.
what yax am i liable to?
Expert:  taxadvisor.uk replied 2 years ago.

Thank you for your reply.

The worst scenario is the amount is treated as taxable as remuneration under PAYE and you would pay tax and employee NI on this money.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

taxadvisor.uk and other Tax Specialists are ready to help you
Expert:  taxadvisor.uk replied 2 years ago.
I thank you for accepting my answer.

Good luck.

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