Wedding presents received

W

wiseolsham

Guest
Hi all, first time poster, long time lurker. I'm not sure if this is in the right place or not but....

My sister got married 3 weeks ago and is not long back from the honeymoon. She got mainly cash / cheques / bank drafts as wedding presents (No Toasters thankfully :) )

I dont want to go into how much she made exactly but its under 10 grand. Can she lodge all of this (or just the cheques and bank drafts side of it) into her savings or current account hassle free (as she puts it). Is there tax implications or a limit on what she can lodge before alarm bells go off or how does she explain the amounts going into the account???

Cheers!
 
Re: Wedding presents recieved

She should have no hassle. Bank may ask where it cam form but I'm sure some of the cheques/drafts will be made out to both of them. She should just tell them they are wedding gifts if asked and she will have no problem proving this if required.
 
Re: Wedding presents recieved

Thanks for that niceoneted.
 
Re: Wedding presents recieved

One further point worth considering...I got married recently and quite a few people gave us cheques made out to "Mr & Mrs John Rambo" which technically we shouldn't have been able to lodge as our joint account (naturally) is in my wife's maiden name. She just brought our marriage cert to the bank and was able to lodge these so perhaps your sister may need to do the same.
 
With a name like that, Im sure they were afraid you would take out the bazooka and blow the branch up if they didnt !! :)
 
As an aside tell you sister to look into any savings from being jointly assessed for tax in the year of marriage. Im recently married and when working out the saving it came to nearly €700 which was very welcome after all the expense of the wedding !
 
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