Body & Soul5 mins ago
Room Rent(CGT)
Hello All
I currently have a mortgage on my house, however I also have another house which has been paid up. My brother has decided that he wants to move out and a decison has been reached to gift over the other house in his name. He has mentioned that his friends will be joing him in this house (students) who will pay him rent, my questions are:
* Due to room rent, is he eligible to do this as he has just moved in to the property? He wil be getting approx 350 w week so its just under the CGT cut off
*Does he have to reside at that house for a certain period of time before he can go ahead with the Room rent?
*-SInce they are migrant students they dont pay council tax (so i've been told), who would then pay this?
*Lastly - we will be switching the title deeds into his name, will there be any complications if we do this for all the above factors? Or is it best for me to leave this?
Thanks
A
I currently have a mortgage on my house, however I also have another house which has been paid up. My brother has decided that he wants to move out and a decison has been reached to gift over the other house in his name. He has mentioned that his friends will be joing him in this house (students) who will pay him rent, my questions are:
* Due to room rent, is he eligible to do this as he has just moved in to the property? He wil be getting approx 350 w week so its just under the CGT cut off
*Does he have to reside at that house for a certain period of time before he can go ahead with the Room rent?
*-SInce they are migrant students they dont pay council tax (so i've been told), who would then pay this?
*Lastly - we will be switching the title deeds into his name, will there be any complications if we do this for all the above factors? Or is it best for me to leave this?
Thanks
A
Answers
Best Answer
Nobody has yet answered this question. Once some answers have been given, spay40 will be able to select one answer as the best. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.There are no answers available for this question.
Latest Posts
Crosswords7 mins ago
Listener 4848 - Return By Dysart
Crosswords19 mins ago
Listener 4848 Return By Dysart
Crosswords21 mins ago
Crosswords29 mins ago
Is Elon Musk An "Absolute Hero...
News34 mins ago
Related Questions
Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.