Not for me (I wish), a friend has been paid a sum of money by their parents, parents done well in life through property and are giving their kids money regularly. the parents have been audited a few times (dunno how much, even 2-3 would seem like a lot to me), tax affairs in order.
However, reading on the new rules that are coming in that parents cant give money over a threshold without being liable for tax, friend is worried that if they're audited again in the coming years when new rules are in that the parents might get audited, see the money theyre giving him, they put his bank account into the REAP and then he'll be audited as he thinks revenue use bank accounts for the REAP system. They put in the bank acc and he gets profiled and breaks their rules or rather makes him a risk for being audited.
Is this a bit far fetched? I said I might know a man who knows.
However, reading on the new rules that are coming in that parents cant give money over a threshold without being liable for tax, friend is worried that if they're audited again in the coming years when new rules are in that the parents might get audited, see the money theyre giving him, they put his bank account into the REAP and then he'll be audited as he thinks revenue use bank accounts for the REAP system. They put in the bank acc and he gets profiled and breaks their rules or rather makes him a risk for being audited.
Is this a bit far fetched? I said I might know a man who knows.