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Child's cancer fundrasing

(1 Post)
s88 Mon 17-Oct-16 14:43:48

My 2 year old son has recently been diagnosed with a rare cancer.

Friends and family have been amazing and raised money for him/us whilst he has his treatment . This will be for a minimum of 18 months .

The funds have been raised via go fund and other events and have been deducted accordingly from that .

My question is , with this money being sat in my child's saver account will it be subject to any tax ??

It is around £40,000 (as I said,amazing support)

I have read a lot about as it is gifted it is not subject to tax and not from 1 person so not inheritance but need this clarifying .

Many thanks

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