Tax

[Mamamoor]

My Mum has recently given her old car to my brother. She wants to give me money to the value of said car. Do I have to declare this to the tax man?

Depends how much it is. If I remember correctly, you can give up to £3,000 in each tax year as a tax-free gift. And if you haven't used the previous year's allowance, I think you can double up in one year. But I am sure someone better qualified than I will be along to answer this one...

I think gifts from parents are different you can get more? not sure I'll have a look