We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Tax implications for renting out house

chelseablue · 2017-07-17 11:03:11

Will try to give as much detail as I can. My mother in law who is 66 owns a 3 bedroom house in Berkshire. Mortgage was paid off about 4 years ago. Her brother lives a few roads away also in a 3 bed house that is mortgage free. The brother is selling his house and buying a 2 bedroom bungalow in a different area of the…

Comments

00ec25 Posts: 9,123 Forumite

17 July 2017 at 3:14PM

chelseablue wrote: »

Answers in bold

ok, I'd agree with you in that case. Brother is admirably going to look after his sister in what is likely to soon be declining health. Yes he gets to halve his bills, but at the "cost" of almost certainly having to physically care for her "soon"

she gets to bank a significant lump sum tax free and can spend it wisely as she sees fit (subject to deprivation of capital remaining an issue of course)

0