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Renting from parents
morninglory
Posts: 2 Newbie
Hi everyone/anyone,
My Mum has just inherited a house and is happy to let me and my friend live in it for free. I am working full time and my friend is a full-time student. We will pay bills.
Do we need to set up some type of formal tenancy agreement?
Does something need to be provided to HMRC to show there isn't a rental income on the property?
Will I pay 100% council tax i.e. no single person discount and no charge for full-time students?
Is there anything else I've not thought of?
Any thoughts much appreciated!
My Mum has just inherited a house and is happy to let me and my friend live in it for free. I am working full time and my friend is a full-time student. We will pay bills.
Do we need to set up some type of formal tenancy agreement?
Does something need to be provided to HMRC to show there isn't a rental income on the property?
Will I pay 100% council tax i.e. no single person discount and no charge for full-time students?
Is there anything else I've not thought of?
Any thoughts much appreciated!
0
Comments
-
You'll pay 75% council tax I think, that was the case when I was a FT student and my partner worked FT.
Not sure about the rest.0 -
you may be able to argue that your friend is in fact your lodger and therefore you are sub letting to him but at the end of the day as he and your parents are unrelated then they really ought to have some formal agreement in place to protect themselves, eg if there is any future falling out
either way, if there are any gas appliances in the property then they (if they make him a tenant) or you (if he's your lodger) MUST (criminal offence not to) have an annual landlords gas safety check certificate even tho no rent is paid
you are both liable for CT because you, not your parents are the residents. Provided your friend holds the council tax exemption certificate from his uni , you can claim the 25% SPD0 -
Nice one!
Your input is much appreciated, thanks! I'll have a chat with people.0
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