My mother is 85 and has lived in the same house for over 50 years(Victorian house with steep stairs) last year due to the stairs she moved into a bungalow purchased via the family she does not pay rent , due to the property market we decided as a family to rent out her property which is in her name a tenant moved in in January.
Can you help with the following obviously she will declare the income but she wants the the rent to contribute to her only grandson's private education can this be considered in addition to the £1500 gift allowence to her children. she does not have a large estate but would like to see some education benefit!
Any other information gratefully welcome.
Property Income
2 posts • Page 1 of 1
Re: Property Income
by maths on Wed Jan 25, 2012 4:28 pm
can this be considered in addition to the £1500 gift allowence to her children
Not sure to what you are referring here?
In short, she can make gifts re the education.
Whether any iht issue arise depends on the size of her estate and availability of the nil rate band, but probably none.
- maths
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2 posts • Page 1 of 1
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