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Apr, 2017

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  1. #11
    Join Date
    Dec 2013
    Posts
    844

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    If the property investments you have made so far and those you intend to make in the future are specifically for you kids, then go see a specialist accountant so you can learn of the possibilities of doing this in the most tax efficient and legal way. Then come back here and let us know, Cause i can see myself in your situation in a few years time.
    Any advice I give is my opinion and experience, I am as you also learning.

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  3. #12

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    properties were bought as buy to let about 10 yrs ago with a view to funding university charges and then our pensions. We pay all taxes etc due, not trying to evade tax illegally, but trying to reduce it within the law. My understanding is that you cant be the landlord till you are 18 so this is the first year its even become a possibility. Eventually when we pass away kids will get 50% ownership of each property, or they can decide to have one each. I wont care.

  4. #13
    Join Date
    Mar 2009
    Posts
    16,321

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    You can't formally be a landlord or tenant until 18 (but it can be handled, usually through trust arrangement).

    If daughter gets rent income she may be liable to tax (especially if she had other work income...)
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

  5. #14
    Join Date
    Jul 2016
    Posts
    317

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    You may want to consider this https://www.theguardian.com/money/20...gher-education

    Whether the property is a HMO and exactly what that means varies from place to place. If she has two lodgers living with her it's not (my understanding) a HMO. Rent from one is probably free under rent a room exemption and from the second probablu under their tax allowance.

    HOWEVER buying and selling a property is not a cheap business and after 2 years she may want to move on. Consider carefully if this is worthwhile.

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