Property ownership - who receives the rent?
OK. In the normal course of things I know income follows ownership.
However, in the situation I have Mother moves into a local authority bungalow. House remains in her name but son and daughter spend £20K of their own money on renovations and then let out.
They come to me 6 months later and say the rental income is theirs. Mother had intended they have the property, otherwise they would not have spent money on it.
Is it feasible to get the property transfered now, but treat the rents as due to son and daughter from day one,on the basis that M was just holding the property for them?
- problems getting through to the ACCA technical helpline 131 3
- Benefit in kind calc, s.106 ITEPA 119 3
- error on companies house accounts 169 5
- ACCA Accountants Report 127 1
- Sole trader startup losses and PAYE income in same year 197 5
- Newly Started Practice 243 6
- Commission on holiday accrual 83 1
- Practice Company Secretarial Software recommendations please 163 2
- HMRC computer behind the times 215 3
- Who's going to the next Tick & Bash? 355 6
- Is a property owner charging a peppercorn rent to a limited company acceptable 249 6
- Overtime etc for PT employees 175 2
- Generic Notification Notices 136 1
- ACCA, ACPA, IFA, ICPA 454 5
- Anti- Money Laundering - CIMA Practising Certification Application 120 1
- How do you get HMRC to refund overpaid PAYE and NIC 440 5
- RTI lost some data on laptop packing up!! 100 1
- Bank Requesting clients' tax residence 251 4
- Does This Company Need To File A Tax Return 152 1
- fraud 423 1
- QROP pension input amounts 477
- HMRC BENCHMARK EXPENSES 444
- write off loan or loan to equity swap or both 422
- Sole trade business in UK, but the owner works from EU 270
- EPS and CIS deductions 262
- Construction CIS LLP Company 248
- Stamp duty on house transfer between spouses 215
- SAGE winforecast 181
- LIVE: Budget aftermath webinar 173
- Managing deliberate defaulters hmrc 166