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working tax credits

If I am claiming working tax credits, what happens if I am given a gift of money from a parent (�4000) do I need to claim this when I receive it, or the following year, or is it allowed at all. Thanks
21:12 Thu 30th Apr 2009
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anthony25
eeerm you keep it too yourself the social are nosey enough as it is spend it wisely ...enjoy..your not breaking the law
21:20 Thu 30th Apr 2009
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themas
As it happens, anthony's advice is right - you are not breaking the law so far as tax credits are concerned. This is because they are not interested in the amount of savings you have. But if you get more than �300 per year in interest on your savings you have to declare that.

For any other benefit, anthony's advice is wrong - you would be breaking the law by not declaring receipt of a large sum as it could affect your entitlement to the benefit.
21:44 Thu 30th Apr 2009
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Kassee
Question Author
Thank you for your advice and help - why are these benefits like WTC so complicated
00:36 Tue 05th May 2009

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