Cgt,tax,letting,school Fees

MONK£Y

Hi
I Let 3 Houses Which Gives Me An Income Of £16000 A Year With No Mortgages. They Are All In My Name And I Wish To Use This Money Purely To Pay For School Fees For My 2 Children Aged 6 / 8 That Total £17000 Per Year.
Can I Transfer The Deeds Into Their Names Or Create A Trust And Manage It, Any Thoughts Would Be Welcome. I Am A 40% Earner And My Wife Is At Nurse Training And Is Not Recieving Money.

Cheers

thelawnet

I believe children only have a few hundred pounds of allowance, everything above that counts as the parent's income. So I don't think it is worth it.......

By the way, you only need a capital letter at the start of sentences and proper nouns. :-)

pmshrink

I think a child has the same allowance as an adult but I m not sure you can do this - or everyone wouyld be doing it! you need to talk to an accountant, or at least buy a good book on the subject.