Hello,
Bit of advice needed please, FOA to Mods - please move post if better place for it.
I may shortly be putting my mum's house up for letting. I have an Enduring POA. Any rental income received will go towards her care home fees. My question is around the rental income being taxable. Can I set it up in such a way that its in her name not mine, all the income will go to her not me, I will not benefit financially. If she is the named landlord then hopefully that would be OK? I imagine it may depend on level of income which will be approx £900 per calendar month.
WIll be taking some advice but I'm hoping there will be some thoughts out there. Appreciate any ideas...
many thanks
regards - R
Bit of advice needed please, FOA to Mods - please move post if better place for it.
I may shortly be putting my mum's house up for letting. I have an Enduring POA. Any rental income received will go towards her care home fees. My question is around the rental income being taxable. Can I set it up in such a way that its in her name not mine, all the income will go to her not me, I will not benefit financially. If she is the named landlord then hopefully that would be OK? I imagine it may depend on level of income which will be approx £900 per calendar month.
WIll be taking some advice but I'm hoping there will be some thoughts out there. Appreciate any ideas...
many thanks
regards - R