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Is This Taxable Income

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Bazile | 11:05 Thu 12th Sep 2024 | Business & Finance
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My daughter lives with me and my wife

My daughter  gives me x amount for her keep .

Is that money my  daughter gives me classed as income for me ? 

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No you can rent a room in your house up to £7500pa tax free.

I would doubt it, I think your allowed x amount to rent a room out, or you were??

No. Presumably it's covering some or all of the costs that you bear- food, electricity, etc

But if you're over 65 don't tell the chancellor

We don't have a child tax............yet!

...and who would even know that your daughter gives you anything? (apart from us!)

Can't see a reason you would raise this point " over 65 dont tell the chancellor"?

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