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patsy43
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Is he paying you any rent?0
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Probably best to ask your solicitor. Impossible to know from your question - not nearly enough information and background.patsy43 said:i inheriteda property in trust worth 200000 in 2015 my brother lives they rent free till he dies the soliceter says i have to regester this with hrmc is they any tax to be payedGoogling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0 -
no rent he just pays bills0
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Are you a Trustee/Beneficiary of the Trust or just a Beneficiary? Many Trusts now have to be registered with HMRC by the Trustees, that maybe what the Solicitor is getting at.
Registering does not in itself mean Tax is payable. If you're unclear on the Trust details etc. probably easiest as Marcon says to ask the Solicitor for an explanation.0 -
The trust needs registering even though no tax is due while he lives there. CGT or IHT may be applicable when it is eventually sold but there is no ongoing tax to pay.0
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