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Wedding present
- phrank
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4 years 5 months ago #253819 by phrank
Wedding present was created by phrank
Hi there,
My son has out of the blue announced he is getting married next month.
Being a recipient of IB ESA , would I not be able to give them a cash sum as a wedding present? I can afford it as I've not been going out much at all or spending much during the covid crisis.
I just wondered if there was a law regarding this, if not I'll just have to buy a wedding present.
Regards,
Phrank
My son has out of the blue announced he is getting married next month.
Being a recipient of IB ESA , would I not be able to give them a cash sum as a wedding present? I can afford it as I've not been going out much at all or spending much during the covid crisis.
I just wondered if there was a law regarding this, if not I'll just have to buy a wedding present.
Regards,
Phrank
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4 years 5 months ago #253823 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Wedding present
phrank
Are we talking £100s or £1000s, the former is unlikely to be an issue, the latter could be.
Are you under the £6000 limit?
Gordon
Are we talking £100s or £1000s, the former is unlikely to be an issue, the latter could be.
Are you under the £6000 limit?
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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4 years 5 months ago #253826 by phrank
Replied by phrank on topic Wedding present
Hi Gordon,
Yes, I'm well below the 6K. I was thinking perhaps no more than £500, perhaps less depending on cashflow.
Would cash or a bank transfer be prefereable?
Phrank.
Yes, I'm well below the 6K. I was thinking perhaps no more than £500, perhaps less depending on cashflow.
Would cash or a bank transfer be prefereable?
Phrank.
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4 years 5 months ago #253831 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Wedding present
phrank
There are swings and roundabouts to either. The Bank Transfer will be more obvious and the cash will need more explaining if you are asked. It depends on your lifestyle, I rarely use cash so a big cash withdrawal would stand out.
Is there anything that they want? You could purchase it for them and avoid the issues.
Notwithstanding what I have said I would not get hung up on making the gift it's not illegal.
Gordon
There are swings and roundabouts to either. The Bank Transfer will be more obvious and the cash will need more explaining if you are asked. It depends on your lifestyle, I rarely use cash so a big cash withdrawal would stand out.
Is there anything that they want? You could purchase it for them and avoid the issues.
Notwithstanding what I have said I would not get hung up on making the gift it's not illegal.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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4 years 5 months ago #253833 by phrank
Replied by phrank on topic Wedding present
Hi Gordon,
Thanks for that. Yes, good idea. They're moving into a new flat and will need some essential things like a washing machine or some other electrical appliance.
It's just me not looking before I leap once more so to speak, I will find out what they require and buy on my card and keep a record of it.
Once again thanks, and thanks for help putting my over thinking back into gear.
Phrank.
Thanks for that. Yes, good idea. They're moving into a new flat and will need some essential things like a washing machine or some other electrical appliance.
It's just me not looking before I leap once more so to speak, I will find out what they require and buy on my card and keep a record of it.
Once again thanks, and thanks for help putting my over thinking back into gear.
Phrank.
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