Tax credits

[Cassie]

Hi can anyone tell me if the gift of money I receive from an elderly parent is classed as income when I qualify for child tax credits and working tax credits

[northernladuk]

A gift isn't income. If they gave an asset you may have to worry about Capital Gains though.

It may be counted as savings if you are means tested and you need to be careful of IHT if it is a reasonable lump sum...

A Problem Shared: Can I just give my money to my children to avoid inheritance tax? - Telegraph