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Second residential mortgage to buy parents a house- is this possible?
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Thrugelmir wrote: »Call what you want. The HMRC will most certainly take a different view if the "arrangement" is contrived.
I think HMRC being interested is unlikely on the basis of the information given. No Income Tax issue, possible IHT (PET) but unlikely to be significant unless the parents' total estate is £650k plus.0 -
TrickyDicky101 wrote: »I think HMRC being interested is unlikely on the basis of the information given.
Merely musing.
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The tax issue surely is more about :
1ownership / Rental income on original property( assume parents are declaring)- also note this original investment property would be part of parents assets in case of care
2. Poss cgt on the new propertyAny posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0
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