Gift from parent 6k - Recipient Requirements?

[Edward33]

What is required from the recipient when they receive a gift of 6k from a parent?.

As I understand it does not breach any threshold for tax. Is there any documents the recipient needs to get signed or is it simply declare it as a gift on your tax return at the end of the year?

 

[Gordon Gekko]

Nothing is required; it is not reportable.

It’s €6k from two parents / €3k from one

 

[Edward33]

Nothing is required; it is not reportable.

It’s €6k from two parents / €3k from one

Thanks a mil! It is 6k from one parent only but I still think I understand your advice that nothing needs to be done by the recipient at all except for to receive the funds.

 

[irbx]

Thanks a mil! It is 6k from one parent only but I still think I understand your advice that nothing needs to be done by the recipient at all except for to receive the funds.

If it from one parent. 3k will be exempt using yearly allowance and 3k will erode 3 k of the life time limit. If both parents give you 3k each then you life time limit will be untouched. Just FYI if transfer to you by bank with ref is was a gift on statement. In future if revenue was to look at it . It is very clear it was gift and exempt.